Global Markets React to China Industrial Data and Wall Street Retreat
Asia-Pacific markets were mixed as investors analyzed China's industrial data and Australia's August inflation figures. China's industrial profits saw a softer fall in August, with a smaller contraction than the previous seven months. The Bank of Japan members were split over when to raise interest rates, with some believing the 2% inflation target was in sight. Jefferies predicts that shares of a British chip designer will soar over 100% in the next 12 months. Hong Kong's trade decline slowed in August, with smaller drops in imports and exports. The Dow Jones Industrial Average fell below its 200-day moving average for the first time since May, while the S&P 500 dipped below 4,300 for the first time since June 9. Oil prices are on track for their best quarter in over a year, and Tesla shares fell after reports of a potential EU investigation into unfair subsidies for EV makers.