Asian stocks suspend ahead Beijing’s meetings
On Friday, in Asia trade a three-week rebound in the region’s shares suspended, as investors focused on Beijing’s upcoming legislative sessions.
In the morning, the Shanghai Composite Index soared near the flat line, trading at 2859.42. Additionally, the Hong Kong’s Hang Seng Index ascended 0.6%.
The Nikkei Stock Average along with South Korean Kospi remained mostly passive, while Australian S&P/ASX 200 managed to leap 0.3%.
The Chinese major currency hit its weakest level against the evergreen buck since late February, trading at 6.5280.
Investors are currently waiting for new plans from Chinese chiefs regarding the upcoming reform, including China’s swollen industries. However, expectations are quite low. China’s government’s currently taking a relatively modest approach to taming overcapacity, as the country is facing rapidly slowing economic growth, which has already disappointed global markets, Chinese leaders and powered fears of social unrest.
Apart from that, global investors were paying attention to Friday’s US jobs data, as they looked for signs of when the Fed might increase interest rates.