Image Source: Yuichiro Chino/Moment via Getty Images
Japan (NKY:IND) +0.54%. Japan January Services PMI rose to 53.1 from a previous 51.5.
China (SHCOMP) -1.02%. China Caixin Services PMI for January stood at 52.7, down from 52.9 previously.
Hong Kong (HSI) -0.11%. The S&P Global Hong Kong SAR PMI fell to 49.9 in January 2024 from 51.3 in December, indicating largely unchanged private sector conditions at the start of the year.
India (SENSEX) +0.18%. The HSBC India Services PMI was revised higher to 61.8 in January 2024 from a preliminary estimate of 61.2 and higher than December’s figure of 59. The HSBC India Composite PMI was revised upward to 61.2 in January 2024 from flash data of 61.0 and after December’s reading of 58.5.
Australia (AS51) -0.95%. Australian data showed January imports and exports both higher than in December. The January Services PMI was 49.1, an increase from 47.1 previously. Additionally, the Melbourne Institute January headline inflation gauge was +0.3% m/m, down from +1.0%.
Job advertisements in Australia rose by 1.7% month-over-month in January 2024, a significant acceleration from an upwardly revised 0.6% rise in the previous month.
In the U.S. on Friday, all three major indexes ended in gains as strong US jobs data and another pushback from Powell further dented sentiment around Fed rate cuts.
Investors continued to digest a statement from US Fed Chair Powell in an interview Sunday that the central bank will likely lower interest rates later this year, but it was just “not likely” to happen in March.
U.S. stock futures held steady on Monday as investors look forward to more earnings reports and economic data this week: Dow -0.17%; S&P 500 -0.20%; Nasdaq -0.24%.
Investors also turned cautious ahead of the Reserve Bank of Australia’s monetary policy decision on Tuesday, where it is expected to hold interest rates steady.
Currency Exchange Rates: (JPY:USD), (CNY:USD), (AUD:USD), (INR:USD), (HKD:USD), (NZD:USD).
Exploring the Asian Market
