Marketmind: U.S. shutdown relief vs mixed China PMIs
© Reuters. FILE PHOTO: A passerby walks past an electric monitor displaying various countries' stock price index outside a bank in Tokyo, Japan, March 22, 2023. REUTERS/Issei Kato/File PhotoAn early burst of positive sentiment - or relief - after the U.S. Congress agreed a last-minute deal to prevent a partial federal government shutdown could give Asian markets a boost at the open on Monday.
China's markets will be closed for much of the week for the Golden Week holiday, and investors will surely welcome the break - the property sector is imploding, money is flowing out of Chinese assets, the currency is under heavy pressure and the economy is struggling. Monday's batch of PMI reports include the latest snapshots from Australia, Japan and Indonesia, while Japan's closely watched 'tankan' survey of business sentiment and activity will also be released.
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