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Asian Markets Lower on Fed Action and China Slowdown

Markets in Asia were largely lower as investors worried about a possible US rate rise and prospects for global growth.

Positive US jobs numbers released on Friday have boosted expectations the Fed will increase rates at its policy meeting in December.

On Monday, the Organisation for Economic Co-operation and Development (OECD) cut its global growth forecast.

South Korea’s benchmark Kospi index closed down 1.4% at 1,996.59.
In Australia, the S&P/ASX 200 index ended the day 0.4% lower at 5,099.20.

Japan’s benchmark Nikkei index recovered earlier losses to close up 0.15% at 19,671.26 after opening down nearly 1%.

Shares in China were lower after the latest economic data showed consumer inflation slowing again.
China’s consumer price index (CPI) rose 1.3% in October from a year earlier, against expectations for a rise of about 1.5%, and still well below the government’s target of about 3%.

Producer prices index (PPI) numbers for October showed wholesale or factory gate prices had fallen 5.9% from a year ago, slightly more than expectations. The PPI has fallen for 44 months in a row.

via BBC [1]

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Alfonso Esparza

Alfonso Esparza [6]

Senior Currency Analyst at Market Pulse [7]
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza
Alfonso Esparza

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