China stocks faced additional headwinds amid a rising tide of foreign investors dumping stocks. Walmart is looking to sell its holding in e-commerce platform JD.com at a discount.
Stocks in Tokyo rebounded, and tech stocks led the gainers. The yen remained in focus amid worries of rate path uncertainties ahead of the release of an inflation update later in the week.
The People's Bank of China held steady its 1-year and 5-year loan prime rates after lowering rates last month. Benchmark stock indexes turned lower amid earnings worries and a lack of near-term catalysts to stabilize the residential property market.
Market indexes in Japan fell more than 1% after indexes last week soared the most in five years. Machinery orders rebounded in June from the previous months.
Stocks advanced in Hong Kong and Shanghai ahead of the earnings from leading corporations this week. Also, the easing of fears about the U.S. economic slowdown also contributed to positive market sentiment.
Tech stocks rallied in Hong Kong after Alibaba Group and JD.com announced their quarterly results. The People's Bank of China Governor Pan Gongsheng's comments also bolstered market sentiment.
Market indexes in Hong Kong and Shanghai rebounded after a batch of mixed-key economic updates. Retail sales growth accelerated, industrial output increased nearly steadily in July, but home prices fell at the fastest pace in nine years.
Stocks in Japan extended gains for the second day in a row amid stabilizing market sentiment and firmness in the yen. Prime Minister Fumio Kishida said he plans to step down amid growing party infighting and a low voter approval rating.
Stocks rebounded in active trading in Tokyo after investors returned from a three-day holiday. Producer price inflation in July accelerated and rose to 3%, driven by a higher cost of imported food, fuel, and materials.
Stocks in China lacked direction amid economic slowdown worries and a weak corporate earnings outlook. Investors looked forward to the release of key economic data, including retail sales, fixed-investment, and housing market updates.
Stocks in China lacked direction, and investors looked ahead to the release of industrial output, retail sales, and fixed-investment data later in the week.
