A pedestrian looks at an electric quotation board displaying the numbers on the Nikkei 225 Index on the Tokyo Stock Exchange and various markets around the world. Picture: AFP/KAZUHIRO NOGIAsian stocks edged up on Monday, catching some of Wall Street’s momentum after surprisingly strong US jobs data though regional gains were capped by concerns about China’s economic slowdown due to the prolonged Sino-US trade war.
“This economy is still climbing and shattering the records for longevity,” said Chris Rupkey, chief financial economist at MUFG Union Bank. “Right now, the clouds of recession still remain well offshore despite troubled economies elsewhere in the world and a trade war.
Meanwhile, China’s exports shrank for the fourth consecutive month in November, sending shivers through a market already concerned about damage being done to global demand by the trade war. But growth in imports was seen as a possible sign that Beijing’s stimulus efforts over the last two years were helping to stir demand.
The Federal Reserve’s open market committee kicks off its two-day policy meeting on Tuesday. The central bank is expected to highlight the economy’s resilience and keep interest rates on hold at 1.50%-1.75%.
Source: News Formal (newsformal.com)
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