On Friday morning (18 October, 9:21 AM, GMT+7, Bangkok time), indices in Asia Pacific traded mixed as investors anticipated crucial economic indicators from China and analyzed the inflation figures from Japan.
Economists polled by Reuters predict China’s third-quarter GDP to be 4.5%, a slight decline from the 4.7% growth seen in the previous quarter. In September, house prices in China dropped by 5.8% year-over-year, surpassing the 5.3% decrease in August.
Forecasts suggest a mixed scenario for China, with urban investment growth expected to slow down to 3.3% year-on-year from 3.4% in the previous month. On the other hand, retail sales are anticipated to increase by 2.5% on a yearly basis, showing faster growth compared to the 2.1% expansion reported last month, as per data from LSEG.
As for Japan, headline inflation stood at 2.5%, while the core consumer price index (CPI), excluding fresh food prices, increased by 2.4% year-on-year, surpassing Reuters’ projected estimate of 2.3%.
South Korea’s KOSPI slid by 0.17% to 2,604.87. Australia’s ASX 200 declined by 0.75% to 8,293.5, while Japan’s NIKKEI increased by 0.37% to 39,054.24.
As for stocks in China, Hong Kong’s HSI surged by 0.58% to 20,195.72. Shenzhen’s SZI climbed by 0.27% to 9,918.09, while Shanghai’s SSEC dropped by 0.14% to 3,164.81.
Meanwhile, the US stock markets edged up on Thursday as the Dow Jones Industrial Average (DJIA) gained 0.37% to 43,239.05. NASDAQ increased by 0.04% to 18,373.61, while S&P 500 dipped by 0.02% to 5,841.47. VIX slumped by 2.4% to 19.11.
As for commodities, oil prices settled higher on Thursday, rebounding from a two-week low, following the release of data indicating a decrease in crude and fuel inventories in the United States. Brent futures rose 23 cents or 0.31% to $74.45 a barrel, and the West Texas Intermediate (WTI) grew 28 cents or 0.4% to $70.67 per barrel.
This morning, Brent futures surged 24 cents or 0.32% to $74.69 a barrel, and the WTI edged up 31 cents or 0.44% to $70.98 per barrel.
Meanwhile, gold futures gained 0.52% to $2,721.5 per Troy ounce.
