Most Asian stocks trade lower on Monday as investors turn cautious amid the escalating geopolitical tensions between Israel and Hamas. Japan’s Nikkei
Asian equities trade in negative territory amid the cautious mood. Chinese central bank maintained the one-year Medium-term Lending Facility rate unchanged at 2.50%. Japan’s Nikkei index is the worst performer ahead of the inflation data. The Chinese growth number , Industrial Production, and Retail Sales on Wednesday will be closely watched events. index leads losses ahead of the key inflation data on Friday.
While the central bank kept the seven-day reverse repo rate unadjusted at 1.80%. Additionally, PBoC Governor Pan Gongsheng stated at the International Monetary Fund meeting in Morocco that authorities vowed to provide more substantial support to the real economy The National Bureau of Statistics of China showed on Friday that the Chinese Consumer Price Index for September came in at 0% YoY versus 0.1% prior, below the market consensus of 0.2%. Meanwhile, the Producer Price Index dropped to 2.
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