Asian Stocks Trading Lower as Markets Await Chinese Inflation Data
Asian stocks opened lower this morning (October 10th , 2014) with a stronger yen pulling down Japanese shares to a three week low, as markets await report on Chinese inflation. There has been an average of two shares dropped for each that advanced on the Asian pacific index.
Investors await the Chinese reports on consumer and producer prices later today. Analyst expects weak CPI for October which will strengthen the case for further monetary easing in China. An estimate of 38 analyst by Bloomberg showed a 1.6 percent rise in CPI in October from previous period year on year,
However, the Chinese export for October rose 11.6%. This is higher than the 1.6% seen in the same period last year. China remains the second biggest economy in the world and its growth in exports have a significant impact on global growth.
South Africa has seen its inflation rates higher in 2014 than ever before as inflation currently stands beyond the 3 percent to 6 percent target range. Inflation continue to be a serious factor affecting markets in emerging economies like China and South Africa. Markets in South Africa will open today with an eye on Chinese’s inflation data.