China’s Economy Stumbles Main reason is Asia-Pacific markets declined on Monday as investors digested key economic data from China.

Significantly, the second-largest global economy revealed that its GDP witnessed a growth of 6.3% during the second quarter, which was below the anticipated figures by economists.

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Hong Kong markets are expected to be closed throughout Monday due to warnings issued for Typhoon Talim. Until at least 4 p.m., according to the Hong Kong Observatory, Storm Signal No. 8 is expected to be in effect.

Another reason why China’s economy stumbling In Hong Kong, when a storm signal number 8 or higher is in effect, the morning trading session on the Stock Exchange is typically canceled. Moreover, if the signal number 8 or higher persists into the afternoon, all trading sessions for the day will be canceled as well.

China's Economy Stumbles

In mainland China, the Shanghai Composite fell 0.87%, closing the sector’s losses at 3,209.62. The Shenzhen component closed down 0.63% at 11,010.36.

In Australia, the S&P/ASX 200

It ended marginally lower at 7,298.50, snapping a four-day winning streak. Later this week, the nation will announce data on unemployment, which may give hints regarding the Reserve Bank of Australia’s rate decisions.

South Korea’s Kospi fell 0.35% to 2,619, also ending a four-day winning streak. KOSDAQ reversed the regional trend and closed 0.22% higher at 898.29.

Elsewhere, markets in Japan are closed for Navy Day.

In Southeast Asia, Singapore’s domestic non-oil exports fell 15.5% in June from a year earlier, while Indonesia’s June trade balance rose more than expected.

US markets were mixed on Friday, with the Dow Jones industrial average hitting its highest since March as strong results from some of the biggest banks and companies kicked off earnings season.

Even though the S&P 500 and Nasdaq Composite experienced minor declines of 0.10% and 0.18% sequentially, both indices attained their highest intraday levels since April 2022.

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