China unemployment rises more than expected, Asian stocks fall slightly
Most Asian markets fell on March 18, with investors cautious ahead of a number of important central bank meetings this week, including those of the Federal Reserve and the Bank of Japan.。
On Monday (March 18), Chinese stocks rose due to mixed manufacturing and retail sales data.。China's Shanghai-Shenzhen 300 Index and Shanghai Composite Index each gained 0.5% and 0.4%, data show that industrial production growth from January to February exceeded expectations。
While the data show that China's industrial output is strong, other indicators show that consumption is falling and unemployment is rising more than expected.。
In the first two months of 2024, China's unemployment rate unexpectedly rose to 5.3%, retail sales still miss expectations despite boost from Lunar New Year holiday。Hong Kong's Hang Seng Index Down 0.3%, mainly due to lower share prices of mainland companies。
Among other Asian companies, Australia's ASX 200 index traded flat ahead of Tuesday's meeting of the Reserve Bank of Australia。The Reserve Bank of Australia is expected to leave interest rates unchanged and maintain a hawkish stance against the backdrop of persistent inflation.。
South Korea KOSPI up 0.4 per cent, but futures on Indonesia's Nifty 50 index hinted that the market could start slowly as market caution led investors to cash out, giving back record highs from the start of the month.。
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