MARKETS: China’s stock market has a down day for a change

Doubts related to China’s support package have risen to the surface again on Friday and stock prices are falling. Otherwise, the stock market in Aas has been on the rise this morning.

The divisiveness of the market has also been emphasized by the strongly fluctuating expectations of the US interest rate policy. In the United States, on Thursday afternoon, statistics on the change in consumer prices for September and last week’s unemployment compensation applications were announced at the same time.

Inflation in the United States weakened more slowly than expected and unemployment benefits were applied for more than expected. It was difficult for investors to interpret the news and, for example, the two-year interest rate in the United States, which is sensitive to monetary policy expectations, has bounced almost uncontrollably during the evening and night.

In the end, the news about the weakening of the labor market seems to weigh more on the persistence of inflation.

A large support package was announced in China in September, which includes direct support for the investment market as part of it. Doubts have arisen about the details of the complex package, and China’s stock market has alternated between solid up days and big drops. This morning, mainland China’s CSI 300 index was down 1.9 percent. The Hong Kong Stock Exchange has a day off.

China’s Ministry of Economy is scheduled to reveal the effects of the support package in more detail at a press conference on Saturday.

“The market can expect the repatriation of profits after many days of growth. In addition, investors are still considering the risk that China’s stimulus package will turn out to be a disappointment,” Moomoo’s market strategist Jessica Amir reviews Bloomberg.

In Japan, the stock market has been on the rise, especially thanks to the banks. In addition, a clothing store Uniqlon emoyritys Fast Retailingin the share price was up 5.4 percent after publishing a better-than-expected interim result.

Japan’s Nikkei was up 0.7 percent in the morning. MSCI’s Asia Pacific was up 0.3 percent.

During the evening and night, the difficulties in interpreting the statistical figures of the United States have swayed not only the interest rates but also the dollar. In the morning, however, the currencies have moved close to yesterday’s closing levels.

At 8:00 a.m., the euro fetched 1.0936 dollars, 162.64 yen, 0.83804 pounds or 11.362 Swedish kronor. The dollar was 148.72 yen and the pound was 1.3050 dollars.