Lots of China news, little clarity
By Kevin Buckland
A look at the day ahead in European and global markets from Kevin Buckland
China is very much the center of attention today, following a barrage of data and remarks from its central bank chief, financial regulator and stats bureau.
Unfortunately, though, none of it served to paint a clearer picture of how exactly the world's second-largest economy is positioned and what actually policy makers are doing about it.
The economy grew at the slowest pace since early 2023 in the third quarter, although forecast-topping retail sales potentially gave some cause for optimism. At the same time, new home prices tanked at the fastest pace since 2015.
Of course, all this is arguably old news, mostly predating the announcement of the most aggressive stimulus since the pandemic at the end of last month - even if a lack of detail in subsequent press briefings has sapped the initial momentum.
That said, the official launch today of a swap facility aimed at supporting the stock market seemed to have an immediate psychological impact, spurring a swing to gains in mainland equity markets.
The effect was not transmitted more widely, with shares in economies tied closely to China, like Australia and South Korea, performing poorly.
Robust earnings from Taiwanese chipmaker and Nvidia NVDA.O supplier TSMC 2330.TW was probably responsible for the bulk of gains in Hong Kong stocks .HSI, as well as lifting Taiwan's equity benchmark .TWII by 2.5%.
European shares look headed for a softer open, with FTSE FFIc1 and DAX futures FDXc1 both down, although both indexes are currently on course for weekly gains of more than 1%.
UK retail sales are the biggest macro event regionally, coming just as sterling recovers from its mid-week inflation shock.
The British currency is down 0.4% for the week, looking much more robust than the euro, which is on track for an almost 1% slide after Thursday's ECB rate cut and signals of more coming soon.
Key developments that could influence markets on Friday:
-UK retail sales (Sep)
-US housing starts, building permits (both Sep)
-Fed's Bostic, Kashkari and Waller speak
China GDP growth slows in Q3 https://reut.rs/4dR2BoP
Reporting by Kevin Buckland; Editing by Muralikumar Anantharaman
Mga Kaugnay na Asset
Pinakabagong Balita
Disclaimer: Ang mga kabilang sa XM Group ay nagbibigay lang ng serbisyo sa pagpapatupad at pag-access sa aming Online Trading Facility, kung saan pinapahintulutan nito ang pagtingin at/o paggamit sa nilalaman na makikita sa website o sa pamamagitan nito, at walang layuning palitan o palawigin ito, at hindi din ito papalitan o papalawigin. Ang naturang pag-access at paggamit ay palaging alinsunod sa: (i) Mga Tuntunin at Kundisyon; (ii) Mga Babala sa Risk; at (iii) Kabuuang Disclaimer. Kaya naman ang naturang nilalaman ay ituturing na pangkalahatang impormasyon lamang. Mangyaring isaalang-alang na ang mga nilalaman ng aming Online Trading Facility ay hindi paglikom, o alok, para magsagawa ng anumang transaksyon sa mga pinansyal na market. Ang pag-trade sa alinmang pinansyal na market ay nagtataglay ng mataas na lebel ng risk sa iyong kapital.
Lahat ng materyales na nakalathala sa aming Online Trading Facility ay nakalaan para sa layuning edukasyonal/pang-impormasyon lamang at hindi naglalaman – at hindi dapat ituring bilang naglalaman – ng payo at rekomendasyon na pangpinansyal, tungkol sa buwis sa pag-i-invest, o pang-trade, o tala ng aming presyo sa pag-trade, o alok para sa, o paglikom ng, transaksyon sa alinmang pinansyal na instrument o hindi ginustong pinansyal na promosyon.
Sa anumang nilalaman na galing sa ikatlong partido, pati na ang mga nilalaman na inihanda ng XM, ang mga naturang opinyon, balita, pananaliksik, pag-analisa, presyo, ibang impormasyon o link sa ibang mga site na makikita sa website na ito ay ibibigay tulad ng nandoon, bilang pangkalahatang komentaryo sa market at hindi ito nagtataglay ng payo sa pag-i-invest. Kung ang alinmang nilalaman nito ay itinuring bilang pananaliksik sa pag-i-invest, kailangan mong isaalang-alang at tanggapin na hindi ito inilaan at inihanda alinsunod sa mga legal na pangangailangan na idinisenyo para maisulong ang pagsasarili ng pananaliksik sa pag-i-invest, at dahil dito ituturing ito na komunikasyon sa marketing sa ilalim ng mga kaugnay na batas at regulasyon. Mangyaring siguruhin na nabasa at naintindihan mo ang aming Notipikasyon sa Hindi Independyenteng Pananaliksik sa Pag-i-invest at Babala sa Risk na may kinalaman sa impormasyong nakalagay sa itaas, na maa-access dito.
