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Asian stocks retreated on Monday, as Chinese inflation data signaled continued demand weakness and political turmoil continued in South Korea after President Yoon survived impeachment.<\/p>\n
Japanese markets<\/span> outperformed to end slightly higher after Q3 GDP was revised higher, testing bets on a December Bank of Japan rate hike.<\/p>\n The U.S. started the week on a firm note as Syrian rebels seized the capital Damascus unopposed on Sunday in historic turn of events, bringing an abrupt end to President Bashar al-Assad’s 13-year rule and the six-decade-long dominance of the Assad family.<\/p>\n Oil and gold prices edged higher in Asian trading due to rising tensions in the Middle East. <\/p>\n China’s Shanghai Composite index finished marginally lower at 3,402.53 as weak inflation readings underscored the need for more drastic stimulus measures. Hong Kong’s Hang Seng index closed up 2.76 percent at 20,414.09 after a late surge. <\/p>\n China’s consumer price inflation eased unexpectedly to a five-month low in November and producer prices decreased for the 26th consecutive month, suggesting that the sequence of stimulus measures initiated by Beijing had limited impact on reviving domestic demand.<\/p>\n Japanese markets rose slightly as data revealed GDP grew in July-September at a faster pace than initially reported due to upward revisions in capital investment and exports.<\/p>\n The Nikkei average closed up 0.18 percent at 39,160.50 after a choppy session. The broader Topix index settled 0.27 percent higher at 2,734.56.<\/p>\n AI-focused startup investor SoftBank Group and Uniqlo parent firm Fast Retailing both gained around 2 percent. <\/p>\n Rakuten Group surged 6.7 percent after the e-commerce company announced a shareholder benefits program. Chip-related shares declined, with Advantest falling 4.7 percent.<\/p>\n Seoul stocks led regional losses after Yoon survived an impeachment vote in parliament and a defense ministry spokesman said he still is commander in chief, deepening a leadership crisis.<\/p>\n The Kospi average tumbled 2.78 percent to 2,360.58 despite the country’s financial authorities pledging to support the won and the country’s financial markets. <\/p>\n Automakers Hyundai Motor and Kia Corp fell 1.2 percent and 3 percent, respectively. <\/p>\n Australian markets ended on a flat note as investors awaited the Reserve Bank of Australia’s rate decision. Miners and banks led losses, with Fortescue Metals Group losing 1.2 percent and ANZ tumbling 3.6 percent. <\/p>\n Woolworths rose 1.1 percent after the top grocer agreed to increase wages to resolve a strike action by industrial union workers.<\/p>\n Across the Tasman, New Zealand’s benchmark S&P\/NZX-50 index finished marginally lower at 12,801.80.<\/p>\n U.S. stocks ended mixed on Friday after the release of better-than-expected jobs and consumer sentiment data.<\/p>\n Data showed non-farm payroll employment shot up by 227,000 jobs in November after rising by an upwardly revised 36,000 jobs in October.<\/p>\n The unemployment rate crept up to 4.2 percent from 4.1 percent in October, helping increase investors’ confidence that the Federal Reserve will lower interest rates by another 25 basis points later this month.<\/p>\n The tech-heavy Nasdaq Composite climbed 0.8 percent and the S&P 500 edged up by 0.3 percent to reach new record closing highs, while the Dow dipped 0.3 percent. <\/p>\n<\/p>\n<\/div>\n