Market Overview

Asian Markets Remain Mixed Amid China's Economic Recovery

Asian Markets Remain Mixed Amid China's Economic Recovery

U.S. indices advanced on Monday led by tech stocks. Dow Jones closed 0.88% higher, S&P 500 gained 1.64% and Nasdaq 100 added 2.56%. Despite a good Monday in the U.S. and a positive start to the week, Asian markets are mixed on Tuesday, mainly due to events in China.

Japan's Nikkei index is trading up 0.13% at press time. There are no major economic events scheduled for Tuesday.

China's Shanghai Composite index is trading 0.30% lower after September's trade surplus narrowed to $37 billion, compared to the consensus of $58 billion and $58.93 billion in August. Exports showed a healthy growth of 9.9% year-over-year meeting consensus, while the imports showed a surprise growth of 13.2% year-over-year versus a 2.1% decline in August. Housing Prices data for China is due later Tuesday.

Hong Kong has suspended trading in the Hang Seng index due to a typhoon.

Australia's S&P/ASX 200 index is trading 1.32% higher at press time led by bank stocks. The coal stocks are falling on reports that China could ban coal imports from Australia. The country's Housing Industry Association is due to release new home sales data later Tuesday. Consumer sentiment numbers for October are due as well.

India's Nifty 50 index is trading 0.30% higher at publication time led by some consumer stocks. Midcap stocks and bank stocks are trading lower in the session as stimulus measures announced by the country's finance minister on Monday proved insufficient to move the needle. There are no major economic events due Tuesday.

South Korea's KOSPI index is trading 0.19% lower. Investors will be watching the country's interest rate decision due late Tuesday.

U.S. Dollar index futures (USD measured against a basket of five major currencies) are trading 0.08% higher at 93.18. Dollar has gained 0.11% against the Japanese Yen at 105.42 and 0.09% against the Chinese Yuan at 6.7509.

ETFs To Watch: iShares Core MSCI Emerging Markets ETF (NYSE: IEMG), which closed 0.73% higher on Monday, and is up 30.4% in the last six months.


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