Asian Markets Lower on Fed Action and China Slowdown

Markets in Asia were largely lower as investors worried about a possible US rate rise and prospects for global growth.

Positive US jobs numbers released on Friday have boosted expectations the Fed will increase rates at its policy meeting in December.

On Monday, the Organisation for Economic Co-operation and Development (OECD) cut its global growth forecast.

South Korea’s benchmark Kospi index closed down 1.4% at 1,996.59.
In Australia, the S&P/ASX 200 index ended the day 0.4% lower at 5,099.20.

Japan’s benchmark Nikkei index recovered earlier losses to close up 0.15% at 19,671.26 after opening down nearly 1%.

Shares in China were lower after the latest economic data showed consumer inflation slowing again.
China’s consumer price index (CPI) rose 1.3% in October from a year earlier, against expectations for a rise of about 1.5%, and still well below the government’s target of about 3%.

Producer prices index (PPI) numbers for October showed wholesale or factory gate prices had fallen 5.9% from a year ago, slightly more than expectations. The PPI has fallen for 44 months in a row.

via BBC

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