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Asian Stock Markets Mixed as Investors Await Economic Data

Asian markets closed mixed today as investors eagerly awaited the release of important economic data in Asia later this week. Meanwhile, all eyes were also on the US as the personal consumption expenditures (PCE) price index is set to be released on Friday.

In Tokyo, the Nikkei closed slightly higher at 28,593.52, up 29.15 points or +0.10%, as ANA Holdings raised its profit forecast late last week. This sparked expectations of higher profits for other travel firms, benefiting from a potential recovery in the tourism sector.

On the other hand, in Australia, the S&P/ASX 200 closed at 7,322.00, down 8.40 points or -0.11%, and the All Ordinaries closed at 7,512.20, down 10.80 points or -0.14%, due to selling pressure on mining stocks. Investors will be closely monitoring Australian corporate earnings reports and inflation figures scheduled to be released this week.

In South Korea, the KOSPI closed at 2,523.50 points, down 20.90 points or -0.82%, with technology stocks leading the market lower. Investors slowed down their investments ahead of the release of results from South Korean companies, amid concerns about the impact of the ongoing US-China conflict on businesses.

In China, the Shanghai Composite closed down at 3,275.41, down 25.84 points or -0.78%, as investors remained cautious about China’s economic recovery prospects, despite optimism expressed by many bank analysts.

Hong Kong’s Hang Seng also ended lower at 19,959.94, down 115.79 points or -0.58%, as investors kept a close watch on key US economic data scheduled for release this week. In particular, the PCE index, a key measure of inflation, on Friday is anticipated to provide insights into the US economic outlook.

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