f
  •  
© Reuters.  © Reuters.

By Gina Lee

Investing.com – Asian stocks were mostly down on Monday morning, with markets slowly recovering from the biggest two-day slide since June and investors digesting data released by China.

China’s Shanghai Composite inched down 0.09% by 11:20 PM ET (4:20 AM GMT) and the Shenzhen Component fell 1.10%. The country released mixed export and import data for August earlier in the day, with exports up 9.5% year-on-year from July’s 7.2% increase but imports down 2.1% year-on-year, more than July’s 1.4% fall. The trade balance decreased to $58.93 billion, down from the previous month’s $62.33 billion.

Japan’s Nikkei 225 edged down 0.18%, ahead of a slew of economic data to be released on Tuesday, including figures on household spending, current account and gross domestic product.

Some investors also expected more stimulus measures before the end of the year and expected incumbent prime minister Shinzo Abe’s Abenomics policy to be continued by his replacement.

Hong Kong’s Hang Seng Index edged up 0.19%, reversing its earlier losses. Police reportedly made 289 arrests in the aftermath of protests that took place in the city on Sunday, the original date of the Legislative Council elections. The elections have been postponed to 2021 due to COVID-19.

South Korea’s KOSPI rose 0.64%

Australia’s ASX 200 inched down 0.02%. Australian biotechnology company CSL Ltd (ASX:CSL) said earlier in the day that it would manufacture COVID-19 vaccine candidate being developed by AstraZeneca (NYSE:AZN) and Oxford University upon the completion of successful trials. The first doses for Australian are expected by early 2021.

CSL will also develop a second vaccine candidate, which it is developing alongside the University of Queensland, with first doses also expected by mid-2021.

But some investors remained cautious over the global recovery from Thursday’s slide.

“Risk assets remain fragile following Thursday’s tech-led rout and volatility spike … with stimulus having been key for supporting equities and such lofty valuations, its renewal will be crucial not only for the recovery, but as a driver for equities as job risks mount,” Medley Global Advisors managing director for global macro strategy Ben Emons told Bloomberg.

Meanwhile, U.S. Treasury Secretary Steven Mnuchin on Sunday said a deal between the White House and Congress would finalize details on a spending bill by the end of the week and fund the federal government through the beginning of December, boosting investor hopes that a shutdown

Mnuchin and U.S. House Speaker Nancy Pelosi have reportedly agreed to extend funding, with the measure set to avert a government shutdown when current funding dried up at the end of the month.

“We’re going to move forward with a clean continuing resolution, hopefully through the beginning of December,” Mnuchin said adding: “I hope by the end of the week we’ll have something firmed up.”


Other relevant articles 
[2020-09-07 03:15:24] Asian shares start cautiously amid elevated valuations, oil skids
[2020-09-04 05:50:20] Asian stocks slip after Wall Street selloff dents tech rally
[2020-09-04 04:35:29] Asian Stocks Lower Across the Board After U.S. Slump
[2020-09-03 06:05:06] Asian Stocks Mixed, With Both Japanese and Chinese PMIs Missing...
[2020-09-03 01:25:10] Asian shares set to rise on broader U.S. rally, dollar gains
[2020-09-02 05:25:08] Asian Stocks Mixed, but Buoyed by Positive Data
[2020-09-02 02:25:06] Asian shares set to rise as recovery comes into focus
[2020-09-01 05:50:06] Asian Stocks Mixed Following Wall Street’s Overnight Retreat
[2020-09-01 02:30:26] Asian stocks edge lower after Wall Street dips in month-end trade
[2020-08-31 05:30:22] Asian Stocks Up Over Surprise Rise in Chinese Service Sector
[2020-08-31 03:05:21] Asian stocks hit two-year high, Nikkei bounces as Berkshire buys in
[2020-08-28 05:45:12] Asian Stocks Up After Fed Unveils New Monetary Policy
[2020-08-28 02:05:10] Asian stocks may be choppy despite U.S. Fed inflation shift,...
[2020-08-27 04:55:06] Asian Stocks Down Over Rising U.S.-China Tensions
[2020-08-26 05:25:06] Asian Stocks Down, Pressing Pause on Rally Over COVID-19 Jitters
[2020-08-26 02:10:11] Asian stocks set for cautious gains on Sino-U.S. trade hopes
[2020-08-25 16:25:03] Coronavirus Dampens the Recovery of Asian Tiger Economies as GDP...
[2020-08-25 05:30:26] Asian Stocks Up Amid Raised Hopes for COVID-19 Treatment
[2020-08-25 03:25:25] Asian stocks near two-year high as virus treatment hopes lift mood
[2020-08-24 13:15:42] Exclusive: Foxconn, other Asian firms consider Mexico factories...
[2020-08-24 05:05:21] Asian Stocks Edge Higher, With Cautious Optimism Over COVID-19...
[2020-08-24 04:05:24] Asian stocks start defensively, focus on coronavirus treatment, Jackson Hole
[2020-08-21 05:50:14] Asian Stocks Up, But Investors Keep an Eye on U.S. Economic...
[2020-08-21 02:25:10] Asian stocks set to rise after Wall Street tech-driven rally
[2020-08-20 07:55:21] Bulls move deeper on most Asian currencies on recovery hopes:...
[2020-08-20 04:50:09] Asian Stocks Down Over Disappointing Fed Minutes and Rising...
[2020-08-19 08:05:07] Taiwan to further free up economy, aiming to become Asian...
[2020-08-19 05:00:10] Asian Stocks Mixed, With Record U.S. Markets Run Marred By...
[2020-08-19 02:35:06] Asian stocks tick up after Wall Street cracks more records
[2020-08-18 05:25:08] Asian Stocks Mixed Over Latest U.S.-China Tensions
[2020-08-17 15:55:22] Opening Bell: Futures Jump, Asian Stocks Rise On China Stimulus; Silver Pops
[2020-08-17 08:40:21] Stocks - Europe Mixed; Asian Data and Sanofi in Spotlight
[2020-08-17 05:10:22] Asian Stocks Mixed, U.S.-China Trade Meeting Postponed
[2020-08-14 05:30:11] Asian stocks falter after China data disappointment
[2020-08-14 04:55:10] Asian Stocks Mixed Amid Chinese Data That Missed Expectations
[2020-08-13 22:50:37] Yale illegally discriminates against Asians, whites: Justice Department
[2020-08-13 05:25:06] Asian stocks grind higher, dollar slips as U.S. data brightens mood
[2020-08-13 05:00:10] Asian Stocks Up, Betting on Slow but Steady Global Economic...
[2020-08-12 05:50:08] Asian Stocks Down Over U.S. Congress’ Stimulus Measures Deadlock
[2020-08-12 02:30:14] Asian markets set for mixed trade amid U.S. stimulus wrangling
[2020-08-11 05:50:11] Asian Stocks Up, Seeing Biggest Gains in a Week
[2020-08-11 03:05:25] Oil firms on U.S. stimulus hopes, Asian demand recovery
[2020-08-11 02:20:39] Asian stocks set for cautious start amid renewed U.S.-China...
[2020-08-10 05:30:24] Asian Stocks Up Over Easing Chinese Factory Deflation
[2020-08-10 03:05:24] Asian shares on backfoot as focus shifts to U.S. stimulus, China tensions
[2020-08-07 09:35:10] Europe follows Asian stocks lower as U.S.-China tensions escalate
[2020-08-07 05:55:33] Asian Stocks Down Over Rising U.S.-China Tensions
[2020-08-06 09:05:09] Long bets on most Asian currencies rise as U.S. recovery doubts...
[2020-08-06 05:10:07] Asian Stocks Down Over Mixed U.S. Economic Data and Stall in...
[2020-08-05 05:50:21] Asian Stocks Up, U.S. Congress Under Pressure to Reach Stimulus Deal
[2020-08-04 07:50:03] Valuation of Asian shares rises to decade high on stimulus...
[2020-08-04 05:50:13] Asian Stocks Up After Boost from Positive U.S. Data, But...
[2020-08-03 05:50:24] Asian Stocks Up Despite “Long Way” to COVID-19 Economic Recovery
[2020-07-31 05:15:11] Asian Stocks Down Amid a Tale of Two Sets of Data
[2020-07-31 02:35:30] Asian stocks set to rise on Big Tech surge, dollar slides
[2020-07-30 05:20:06] Asian Stocks Up on Back of Fed Meeting Pledge of Continuous...
[2020-07-30 02:45:11] Asian stocks set to rise on Fed policy, dollar hits two-year low
[2020-07-29 05:15:07] Asian Stocks Up, With Investors Looking to Fed Meeting for U.S....
[2020-07-29 02:25:28] Asian stocks under pressure, gold rallies on U.S. stimulus...
[2020-07-28 05:50:10] Asian Stocks Up, But Gains Capped by U.S. Economic Worries
[2020-07-28 02:50:26] Asian stocks set to rise on U.S. stimulus hopes, gold hits record
[2020-07-27 04:35:21] Asian Stocks Continue Rally Despite Simmering U.S.-China Tensions
[2020-07-24 05:55:13] Asian Stocks Down, as U.S. Economic Recovery Prospects Dim
[2020-07-23 09:35:06] Bullish bets on most Asian currencies climb on vaccine hopes, China stability: Reuters poll
[2020-07-23 05:10:07] Asian Stocks Down Over Mounting U.S.-China Tension
[2020-07-22 05:30:15] Asian Stocks Mixed, U.S. Disagreements Over Further Stimulus...
[2020-07-21 08:00:06] Dividends Come Crashing Down as Asian Companies Preserve Cash
[2020-07-21 02:10:25] Asian markets set to track U.S. gains on vaccine, EU deal hopes
[2020-07-20 05:15:23] Asian Stocks Down, With Quick Economic Recovery Hopes Dashed by...
[2020-07-20 02:55:22] Asian shares defensive; eyes on EU summit, U.S. stimulus talks
[2020-07-17 05:20:10] Asian Stocks End Week on a High Over Hopes of Fresh U.S. Stimulus...
[2020-07-17 01:55:10] Asian markets look for fresh upswing after U.S. market dip
[2020-07-16 05:30:10] Asian Stocks Down, With Long Road Still Ahead For COVID-19...
[2020-07-16 01:55:10] Asian markets look to continue upward run on vaccine hopes
[2020-07-15 04:55:06] Asian Stocks Mainly Up Over Vaccine Hopes, But Risks Remain
[2020-07-15 03:05:06] Asian markets set to shake off coronavirus spread, U.S.-China tensions
[2020-07-14 04:40:26] Asian Stocks Down, Halting Rally as Investors Face Climbing...
[2020-07-14 03:05:26] Asian markets struggle to digest coronavirus spike
[2020-07-13 05:05:24] Asian Stocks Up, With Investors Pinning Hopes on Upcoming...
[2020-07-13 02:40:22] Asian shares firm, hope for best from U.S. earnings
[2020-07-10 05:20:13] Asian Stocks Down, With Record Cases in U.S. Dampening Recovery...
[2020-07-10 03:25:16] Asian shares set to slip as coronavirus concerns weigh
[2020-07-09 05:30:15] Asian Stocks Up Over Investor Hopes of COVID-19 Recovery
[2020-07-09 03:25:08] As Asian Deals Disappear, India Becomes Unlikely M&A Hotspot
[2020-07-09 02:05:15] Asian stocks set to rise as focus swings to recovery prospects
[2020-07-08 11:10:16] Analysts cut earnings estimate for Asian companies for fifth...
[2020-07-08 04:40:07] Asian Stocks Down Amid Ever-Increasing COVID-19 Numbers
[2020-07-08 02:05:10] Asian shares mixed as corporate earnings loom
[2020-07-07 05:50:18] Asian Stocks Mostly Up on Back of Positive U.S. Data, But Curbed...
[2020-07-07 02:20:25] Asian stocks set to follow U.S. higher on China hopes, upbeat data
[2020-07-06 05:05:21] Asian Stocks Soar Amid Rising Number of COVID-19 Cases
[2020-07-03 05:10:14] Asian Stocks Up, Boosted By Release of Positive Data From China...
[2020-07-03 02:15:10] Asian stocks set to follow U.S. jobs rally, China in focus
[2020-07-02 04:55:06] Asian Stocks Up Over Positive Results From Pfizer COVID-19...
[2020-07-02 02:10:10] Asian stocks set to track U.S. gains but Hong Kong jitters weigh
[2020-07-01 02:10:07] Asian markets set for shaky start amid mixed cues
[2020-06-30 05:35:04] Asian Stocks Boosted With Positive Chinese Data, But COVID-19...
[2020-06-29 04:50:30] Asian Stocks Down After Grim COVID-19 Numbers Dampen Hopes of...
[2020-06-26 05:50:11] Asian Stock Up, But Worries Remain Over New Fed Restrictions and...
[2020-06-26 02:15:24] Asian stocks set for cautious gains after choppy Wall Street...