On Monday morning (11 November, 9:19 AM, GMT+7, Bangkok time), indices in Asia Pacific experienced a decline following the release of China’s October inflation data, which was below initial forecasts.
China’s inflation rate dropped to 0.3%, falling short of the anticipated 0.4% and also below the 0.4% recorded in September. The figure has decreased for two consecutive months, reaching its lowest point in four months according to data from LSEG.
Meanwhile, the world’s second largest economy launches its Singles’ Day today, which would indicate insights into the state of consumption in the country, according to a recent report from ING.
Japan’s NIKKEI slid by 0.31% to 39,378.39. South Korea’s KOSPI contracted by 0.71% to 2,542.97, and Australia’s ASX 200 declined by 0.4% to 8,262.
As for stocks in China, Shanghai’s SSEC dipped by 0.15% to 3,447.17. Hong Kong’s HSI slumped by 2.42% to 20,225.59, while Shenzhen’s SZI increased by 0.73% to 11,243.1.
Meanwhile, the US stock markets edged up on Friday as the Dow Jones Industrial Average (DJIA) rose by 0.59% to 43,988.99. NASDAQ climbed by 0.09% to 19,286.78, and S&P 500 grew by 0.38% to 5,995.54. VIX shrank by 1.71% to 14.94.
As for commodities, oil prices settled lower on Friday as concerns over extended supply disruptions from a hurricane in the U.S. Gulf of Mexico eased. Additionally, China’s recent economic stimulus measures did not meet the expectations of certain oil traders. Brent futures decreased $1.76 or 2.33% to $73.87 a barrel, and the West Texas Intermediate (WTI) dropped $1.98 or 2.74% to $70.38 per barrel.
This morning, Brent futures lost 22 cents or 0.3% to $73.65 a barrel, and the WTI fell 28 cents or 0.4% to $70.1 per barrel.
Meanwhile, gold futures slid 0.57% to $2,679.5 per Troy ounce.
