Asian Stocks Down Ahead of Chinese Industrial Output, Retail Sales Data By Investing.com

By Gina Lee

Investing.com – Asia Pacific stocks were down on Monday morning, with investors awaiting Chinese economic data that could indicate a slowdown in economic growth.

China’s inched down 0.03% by 9:39 PM ET (1:39 AM GMT), and the was steady at 14,799.03. The country will release July data, including and , later in the day. The National People’s Congress Standing Committee will also begin a four-day meeting on Tuesday.

Hong Kong’s was down 0.49%.

Japan’s fell 1.41%, even as its GDP growing a better-than-expected 0.3% and 1.3% in the second quarter.

South Korean markets are closed for a holiday.

In Australia, the was down 0.40%. The Reserve Bank of Australia will release the on Tuesday while across the Tasman Sea, the will hand down its policy decision a day later.

U.S. shares ended the previous session on a record high, but caution remained as data released on Friday said consumer sentiment dropped to a near ten-year low. The for August was 65.2, while the for the same month was 70.2.

Meanwhile, investors continue to monitor the impact of globally. In other political developments, Canadian Prime Minister Justin Trudeau called an election for Sep. 20 while Malaysian Prime Minister Muhyiddin Yassin is expected to resign later in the day.

Central banks are also in the spotlight, with U.S. speaking at a town hall discussion with educators on Tuesday and the Federal Open Market Committee releasing a day later.

“Markets are going to have to get comfortable with potential asset tapering from the Fed sometime in 2022,” Macquarie Private Bank division director Martin Lakos told Bloomberg.