China Growth Woes and Trump Incident Roil Asia-Pacific Markets

Asia-Pacific markets declined due to the China GDP miss and the Trump incident; Australian stocks rose amid global uncertainty.

Global Market Overview

Asian Stock Markets:

• Nikkei: Down 2.46%
• Shanghai Composite: Up 0.02%
• Hang Seng: Down 1.48%
• ASX 200: Up 0.74%

Commodities:

• Gold: $2413.5 (0.47%)
• Silver: $31.02 (0.34%)
• Brent Oil: $85.03 (0.07%)
• WTI Oil: $81.01 (0.07%)

Rates:

• US 10-year yield: 4.234%
• UK 10-year yield: 4.156%
• Germany 10-year yield: 2.488%

China Growth Woes and Trump Incident Roil Asia-Pacific Markets

News & Data Highlights

Economic Indicators:

• USD Core PPI m/m: 0.4% (vs 0.2% expected)
• USD PPI m/m: 0.2% (vs 0.1% expected)
• CAD Building Permits m/m: -12.2% (vs -5.0% expected)

Market Update: 

Asia-Pacific markets faced broad declines on Monday following disappointing economic data from China and geopolitical concerns from an incident involving former U.S. President Donald Trump.
China reported second-quarter GDP growth of 4.7%, missing expectations of 5.1% and marking a slowdown from the 5.3% growth in Q1. June retail sales also disappointed, growing 2% year-on-year against expectations of 3.3%.
Hong Kong’s Hang Seng index dropped 1.42%, driven by consumer non-cyclical and real estate stock declines. Mainland China’s CSI 300 slipped 0.09% amidst cautious sentiment following the economic data release.
Australia’s S&P/ASX 200 bucked the trend, rising 0.74% to near a new closing high, supported by strong performances in technology and healthcare sectors.

Political Developments: 

A weekend incident involving an assassination attempt on Donald Trump at a rally has added to global uncertainty. Analysts speculate on potential implications for U.S. political stability and its impact on financial markets, particularly regarding the upcoming U.S. elections.

Upcoming Events

• 12:30 PM GMT: CAD Manufacturing Sales m/m, Wholesale Sales m/m
• 12:30 PM GMT: USD Empire State Manufacturing Index
• 4:00 PM GMT: USD Fed Chair Powell Speaks

Further economic data releases and geopolitical developments in the upcoming week could influence global market sentiment. Investors remain cautious amid evolving economic indicators and political uncertainties.

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