Stocks in Asia traded mixed on Monday after data showed persistent deflationary pressure from China that still suffers from weak domestic demand.
As of 9:40 BKK time on Monday, SSEC edged 0.78% lower, Hang Seng Index fell 1.63%. Meanwhile, Nikkei rose 1.72%, ASX 200 gained 0.07% and Kospi increased 0.07%.
Thailand’s SET Index is closed for holiday on Monday.
China reported a faster-than-expected decline in consumer prices for November. Inflation fell 0.50% year-on-year, more than a 0.1% drop expected by economists from Reuters poll. It was also the fastest drop since November 2020.
Meanwhile, the producer price index fell 3% YoY, compared with a 2.6% drop in October and 2.8% drop expected by economists. This marked the 14th straight month of decline.
Last Friday, the U.S. market closed higher with Dow Jones gained 0.36% to 36,247.87 points, S&P rose 0.41% to 4,604.37 points and Nasdaq increased 0.45% to 14,403.97 points.
Oil prices made some recovery this morning as the international benchmark Brent crude rose 0.38% to $76.13 a barrel and the West Texas Intermediate gained 0.29% to $71.44 a barrel.
