China, Nikkei Down Monday



Asia-Pacific markets were mostly lower on Monday as the region assesses key economic data out from China.

In Japan, the Nikkei 225 index fell sharply, losing 712.12 points, or 1.8%, to 38,102.44, its lowest level in June, dragged by energy and real estate stocks.

In Hong Kong, the Hang Seng index dipped 5.66 points, or 0.9%, to 17,936.12.

Australian stocks fell back, ahead of the Reserve Bank of Australia’s rate decision on Tuesday.

CHINA

In Shanghai, the CSI 300 settled 5.33 points, or 0.2%, to 3,536.20

The world’s second-largest economy released May numbers for its retail sales, industrial output and urban unemployment rate.

China’s retail sales beat expectations in May, climbing 3.7% compared with a year ago, beating expectations of a 3% rise from a Reuters poll of economists.

However, other economic metrics, such as industrial output and fixed asset investment, missed Reuters forecasts. Industrial output grew by 5.6% year-on-year, compared to the 6% increase expected, while fixed asset investment rose 4% compared to last May, just shy of the 4.2% forecast by the Reuters poll.

The urban unemployment rate held steady at 5% in May, unchanged from April, and 0.2 percentage points lower than that of May last year.

Separately, the People’s Bank of China held its one-year medium term lending facility rate at 2.5% on 182 billion yuan ($25.09 billion) worth of loans, as expected.

The central bank also injected 4 billion yuan through seven-day reverse repurchase operations and kept the seven-day interest rate steady at 1.8%.

In other markets

Markets in Singapore were closed for holiday.

In Korea, the Kospi index dropped 14.32 points, or 0.5%, to 2,744.10.

In Taiwan, the Taiex index sank 8.19 points to 22,496.53.

In New Zealand, the NZX 50 stumbled 166.38 points, or 1.4%, to 11,698.52.

In Australia, the ASX 200 fell 23.99 points, or 0.3%, 7,700.27.



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