Live updates on today’s Asia stock markets in 13 words: Stay ahead with timely information.

Date:

Singapore’s core inflation rate in August slowed to 3.4%, the lowest since April 2022. This marks the fourth consecutive month of deceleration and comes in lower than the 3.5% expected by economists. The core inflation rate, which excludes accommodation and private transport prices, is seen as a key measure of underlying inflationary pressures. Meanwhile, headline inflation also weakened to 4%, in line with expectations and the lowest level since January 2022.

In Japan, the Nikkei 225 and Topix were the only major Asian markets to gain on Monday. The Nikkei rose 0.88%, while the Topix was up 0.41%. Health technology and retail trade stocks led the gains, with pharmaceutical company Daiichi Sankyo emerging as the top gainer.

Embattled Chinese real estate firm Evergrande saw its shares plummet by about 20% after it announced the delay of a debt restructuring meeting scheduled for Monday. The company cited unexpected sales and an ongoing investigation into its subsidiary Hengda Real Estate as reasons for the delay. The probe by the Chinese securities regulator focuses on suspected violations of information disclosure.

In other news, Goldman Sachs has forecast “healthy” growth in new lending for three major Indian banks over the next six months, potentially leading to significant upside for their stocks. The bank believes that Indian banking stocks have underperformed despite a positive outlook for lending growth in the sector. Furthermore, historical data shows that a tough August and September for stocks could be followed by a strong October, offering a possible reprieve to recent losses in the market.

Source link

Share post:

Subscribe

spot_imgspot_img

Popular

More like this
Related

Possible RAM configurations for Samsung Galaxy S24 and Ultra models may differ.

Samsung is gearing up to announce its new flagship...

Apple and Google choose AllTrails and Imprint as ‘app of the year,’ snubbing ChatGPT.

Apple and Google have both announced their best apps...

Releases of Remnant II & Remnant: From The Ashes on Game Pass!

Gearbox Publishing and Gunfire Games have surprised gamers by...

Bungie Withdraws Destiny 2’s $15 Starter Pack Amid ‘Pay-to-Win’ Item Backlash

Gamers have been waiting for Destiny 2's new Season...