Asian Markets Ignite: Asian markets are gearing up for an eventful week ignited by Wall Street’s robust Friday rally, where the Nasdaq saw its best day since May, soaring over 2%. This surge sets the stage for a dynamic week in China, featuring a U.S.-Sino Presidential meeting, crucial economic data releases, and prominent corporate earnings reports.
China takes the spotlight with President Joe Biden and President Xi Jinping‘s face-to-face meeting during the Asia-Pacific Economic Cooperation (APEC) gathering in San Francisco from November 15-17. The economic front is equally charged with significant releases, including indicators like money supply, lending, and the comprehensive ‘total social financing,’ a broad gauge of credit and liquidity.
In Japan, financial conditions are making waves, particularly Goldman Sachs’s Japanese index hitting its lowest since March 1990. Despite this loose financial landscape, Japan faces economic headwinds, as seen in Citi’s economic surprises index turning negative.
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Chinese equities, represented by the CSI 300 index, are navigating mixed waters. While it notched a three-week winning streak, the gains haven’t fully recovered the losses from the week ending October 20.
Key corporate players in Japan, including Mizuho, Mitsubishi UFJ, and Sumitomo, are set to reveal their earnings. Meanwhile, in China, giants like JD.com, Tencent Holdings, Alibaba Group, and Lenovo are on the earnings docket.
As the week unfolds, keep an eye on critical developments such as India’s CPI inflation data, APEC finance ministers’ meeting, and Japan’s corporate goods prices for potential market-shaping insights. The stage is set for an intriguing week across Asian markets, filled with anticipation and potential market movers.