📆 Thursday, September 7
â–º European markets continue to remain in a downward trend. The Stoxx 600 index is on a seven-day decline following another drop in German industrial production for July, suggesting potential recession risks for Europe's largest economy. Germany's Industrial Production witnessed a steeper drop (-0.8%) than anticipated in July 2023, marking its fourth decline for the year, driven mainly by reductions in capital, consumer, and intermediate goods production.
► In Asia, negative sentiment dominates with significant markets, especially China, experiencing declines. Chinese stocks suffer primarily from property developers, and the CNY weakens despite the People’s Bank of China's efforts. In addition to this, Chinese trade data for August revealed a sharper-than-anticipated decline in both exports and imports, pointing to continuous weakening demand globally and domestically. China's trade surplus reduced to $68.36 billion from the previous $80.6 billion, with exports and imports witnessing a consecutive drop. Investors in China anticipate the release of Chinese inflation and PPI data later this week (Sept 9) for more cues on the state of China's economic health.
â–º Japan's July leading indicator index slightly underperformed predictions, and reserve assets fell marginally. The Bank of Japan remains committed to its current monetary policy stance due to uncertain inflation targets.
Subscribe to see more
