{"id":10021,"date":"2023-08-08T04:02:19","date_gmt":"2023-08-08T04:02:19","guid":{"rendered":"https:\/\/isafespend.com\/investing\/asian-stocks-flat-as-china-trade-disappoints-earnings-inflation-in-focus\/"},"modified":"2023-08-08T04:02:19","modified_gmt":"2023-08-08T04:02:19","slug":"asian-stocks-flat-as-china-trade-disappoints-earnings-inflation-in-focus","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=10021","title":{"rendered":"Asian stocks flat as China trade disappoints; earnings, inflation in focus"},"content":{"rendered":"
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\u00a9 Reuters. <\/span>
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Investing.com– Most Asian stocks moved little on Tuesday as markets hunkered down ahead of more cues from key inflation data and a slew of major earnings this week, while Chinese shares were hit by a fresh wave of selling in property stocks.\u00a0<\/p>\n

Softer-than-expected Chinese trade data also dampened sentiment towards the region, as both Chinese and sank at their fastest pace since the 2020 COVID-19 pandemic.\u00a0<\/p>\n

Inflation readings from the U.S. and China are set to offer more insight into the world\u2019s largest economies this week, although both readings are likely to move in opposite directions. Analysts are expecting a slight increase in U.S. through July, while is expected to remain close to contraction.<\/p>\n

Chinese stocks lag on weak trade data, property rout\u00a0<\/h2>\n

Chinese shares were among the worst performers for the day, with the index down 1.2% on steep losses in major property stocks. Longfor Properties (HK:) and Country Garden <\/span><\/span> Holdings (HK:), some of the biggest property developers in China, dropped around 6% in Hong Kong trade after Country Garden was downgraded further into junk territory by Moody\u2019s.<\/p>\n

The ratings agency also flagged increased headwinds to China\u2019s property sector from slowing sales and dwindling sources of funding.<\/p>\n

China\u2019s and indexes were flat as data showed the country\u2019s exports and imports continued to decline in July. The reading points to more pressure on the Chinese economy from weak demand, and also bodes poorly for broader Asian markets with trade exposure to the country.\u00a0<\/p>\n

Australia\u2019s rose marginally on Tuesday, while South Korea\u2019s fell 0.1%.\u00a0<\/p>\n

The index sank 0.8%, while futures for India\u2019s index pointed to a negative open, ahead of a meeting this week.\u00a0<\/p>\n

Major Asian earnings on tap this week\u00a0<\/h2>\n

Earnings reports from some of Asia\u2019s biggest companies are also on tap this week, with Japanese technology conglomerate SoftBank Group Corp. (TYO:) set to report quarterly earnings later on Tuesday. Shares of the firm rose 1.2% on expectations that a rally in tech stocks helped the firm turn profitable during the June quarter.\u00a0<\/p>\n

Broader Japanese stocks were mildly positive, with the adding 0.3%, while the rose 0.3%.\u00a0<\/p>\n

Apart from Softbank (OTC:), Japanese tech giant Sony Corp (TYO:) is also set to report quarterly earnings on Wednesday, while Commonwealth Bank Of Australia <\/span><\/span> (ASX:), the country\u2019s largest lender, will report its annual earnings.\u00a0<\/p>\n

Chinese e-commerce giant Alibaba <\/span><\/span> Group (NYSE:) (HK:) will release its quarterly earnings on Thursday, potentially offering more cues on the state of Chinese markets, while also serving up more details on its plans to split into six separate firms.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Investing.com– Most Asian stocks moved little on Tuesday as markets hunkered down ahead of more cues from key inflation data and a slew of major earnings this week, while Chinese shares were hit by a fresh wave of selling in property stocks.\u00a0 Softer-than-expected Chinese trade data also dampened sentiment towards the region, as<\/p>\n","protected":false},"author":1,"featured_media":10022,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[32],"class_list":{"0":"post-10021","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing","8":"tag-featured"},"yoast_head":"\nAsian stocks flat as China trade disappoints; earnings, inflation in focus | iSafeSpend<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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