Muted Gains In Tokyo Stocks Ahead of Interim Dividends Payments

Stocks in Tokyo advanced and recouped some of the losses in the previous session, and investors kept a close eye on the currency movement. 

Investors seeking interim dividend payments added exposure to companies announcing dividends, but overall market sentiment remained cautious. 

The Nikkei 225 stock average and the Topix index advanced 0.4%, and the yen edged slightly lower to 143.51 against the U.S. dollar. 

The Nikkei 225 plunged more than 6% in the previous week, tracking losses on Wall Street following the growing worries of an U.S. economic slowdown. 

However, market indexes rebounded this week after investors searched for bargains amid beaten-down tech and semiconductor stocks.

Investors also reviewed the latest update on China's international trade data for August, and exports rose more-than-expected to 8.7% to $308.7 billion and imports rose 0.5% to $217.6 billion. 

China's rising exports to the U.S., European Union, and ASEAN region are putting additional pressure on Japan's export competitiveness. 

Market sentiment has been cautious in Tokyo as the latest household spending, retail sales, and inflation data supported the case for the Bank of Japan to hike interest rates. 

Japan Stock Movers 

The Nikkei 225 stock average increased 0.4% to 36,347.80, and the Topix index gained 0.4% to 2,589.94. 

Tokyo Electron jumped 3.9% to ¥22,340.0, Advantest Corp. gained 1.9% to ¥5,924.0, and Screen Holdings added 3.7% to ¥9,920.0. 

Sumitomo Mitsui Financial Group added 1% to ¥9,069.0, Mitsubishi UFJ Financial Group advanced 0.5% to ¥1,450.0, and Mizuho Financial Group increased 0.04% to ¥2,839.50. 

Seven & I Holdings declined 0.1% to ¥2,183.50, Isetan Mitsukoshi gained 0.3% to ¥2,176.0, Aeon Co Ltd. added 1.5% to ¥3,917.0, and Fast Retailing fell 0.7% to ¥43,610.0. 

Toyota Motor added 0.1% to ¥2,503.0, Honda Motor inched lower 1.4% to ¥1,488.0, and Nissan Motor fell 1.2% to ¥403.30. 

Daiichi Sankyo Co. Ltd. plunged 8.5% to ¥5,275.0, and the company's lung cancer drug candidate failed to show significant improvement in some disease conditions. 

China Exports Growth Failed to Lift Shanghai Indexes, Hong Kong Stocks Advanced

Market indexes in Shanghai and Hong Kong diverged as investors reacted to the latest update on international traded data. 

The Hang Seng index gained 0.3%, but the mainland-focused CSI 300 index declined 0.5%, and domestic economic worries overshadowed strong export performance. 

China's exports in August jumped 8.7% to $308.7 billion; imports advanced 0.5% to $217.6 billion, resulting in a trade surplus of $91.0 billion, an increase from $84.6 billion in July. 

China's exports to the U.S., European Union, and Association of Southeast Nations continued to advance, reflecting its strong competitiveness and lack of alternatives. 

Exports to the EU rose 13%, to the ASEAN region advanced 7.8%, and to the U.S. gained by 4.9%. 

Exports to the U.S. advanced for the third month in a row, amid rising demand for electronics, industrial intermediary products, and higher prices driven by inflation. 

Despite rising geopolitical tensions, China's exports have continued to advance in nine of the last ten months, driven in part by a surge in exports of automobiles, consumer electronics, and ship vessels. 

Passenger vehicle exports soared 40% to 610,000, smart phone exports advanced 6.7%, and ship vessel shipments jumped 40% from a year ago. 

The increase in passenger vehicle exports was driven in large part by the surge in exports to Russia and increased shipments of electric vehicles to the ASEAN region. 

In the year to August, China's exports rose 4.6% to $2.31 trillion, imports increased by 2.5% to $1.71 trillion, and trade surplus jumped 11.2% to $608.5 billion. 

Crude oil volume fell 7% in August, highlighting weak domestic demand and partly reflecting China's shift to renewable energy sources. 

China Stock Movers 

The Hang Seng index increased 0.3% to 17,244.67 and the CSI 300 index fell 0.5% to 3,176.33. 

Alibaba Group jumped 4.6% to $81.90 after the company's stock was available for trading by mainland investors on the Stock Connect platform. 

Meanwhile, other leading tech stocks lacked direction amid weak demand from investors. 

Tencent Holdings edged down 0.7% to HK $368.60, JD.com added 1.1% to HK $102.40, Meituan increased 0.6% to HK $119.40, and Baidu advanced 1.8% to HK $80.50. 

Wuxi Biologics declined 3.2% to HK $10.98 and Wuxi Apptech fell 7.8% to HK $33.15 after the U.S. House of Representatives placed additional restrictions on the companies citing national security concerns. 

India Movers: Adani Power, Bank of Baroda, Dixon Technologies, GMR Airports, Suzlon Energy

Market indexes in Mumbai edged higher and overlooked cautious global market sentiment ahead of monetary policy decisions. 

India's volatile industrial production is expected to show an improvement, and retail sales growth is likely to be subdued.

The Sensex index increased by 0.2% to 81,693.51, and the Nifty index advanced by 0.2% to 24,979.85. 

On the Mumbai stock exchange, 137 stocks traded at their 52-week highs, and 39 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched higher to 6.85%, and the Indian rupee weakened to 83.95 against the U.S. dollar.

Dixon Technologies gained 2.9% to ₹12,418.0, and the company's subsidiary and Hewlett Packard plan to set up a manufacturing unit in Chennai to make two million computing devices annually and create 1,500 jobs. 

GMR Airports Infrastructure increased 0.2% to ₹91.20, and the company said it plans to acquire a 10% stake in the Delhi International Airport from Frankfurt airport operator Fraport for $126 million. 

Adani Power edged up 0.04% to ₹635.0, and the company is struggling to collect $500 million in overdue payments from the Bangladesh government. 

Suzlon Energy decreased 0.5% to ₹74.37, and the company said it won a 1.2 GW power project from NTPC Green Energy Ltd. in Gujarat. 

After the latest order, the company's order book has increased to 5 GW.

Bank of Baroda decreased 0.02% to ₹235.70, and the financial service company raised 5,000 crore through the sale of 10-year infrastructure bonds. 

The bond yielded 7.26%, and the offering was oversubscribed nearly three times. 

Broad Rally On Wall Street Lifts U.S. and European Indexes 1%

U.S. stocks rebounded in Monday's trading as investors returned to hunt for bargains following sharp losses in the previous. 

Tech stocks led today's upswing as investors thought market sell-off last week was excessive, and artificial intelligence-linked semiconductor stocks led the gainers. 

The S&P 500 index and the Nasdaq Composite edged up over 1% in early trading as investors reassessed the labor market update released last week. 

In a rocky start to September trading, the S&P 500 index decreased 4.3% and the Nasdaq Composite declined 5.8% in the first week of trading. 

Investors are on edge after the economy added weaker than expected jobs for the second month in a row in August, stoking fears of an economic slowdown. 

U.S. nonfarm payrolls expanded 142,000 in August, faster than the downwardly revised 89,000 additions in July but fewer-than-expected 155,000. 

Despite the current market jitters, the U.S. economy has been adding more than 200,000 a month over the last three years, far above the long-term average monthly increase of 160,000. 

This week, investors are also looking forward to the release of consumer price inflation data on Wednesday and producer price inflation data on Thursday. 

Moreover, the European Central Bank is scheduled to announce its monetary policy decisions on Thursday, and investors are anticipating a rate cut of 25 basis points. 

The U.S. Federal Reserve is scheduled to announce its interest rate policy at the end of its two-day policy meeting on September 18. 

Investors are pinning their hopes on a rate cut of at least 25 basis points, despite the slow progress in core inflation in recent months. 

U.S. Indexes and Treasury Yields

The S&P 500 index increased 1.4% to 5,482.52, the Nasdaq Composite rose 1.3% to 16,907.23, and the Russell 2000 index added 1.1% to 2,113.97. 

The yield on 2-year Treasury notes edged lower to 3.69%, 10-year Treasury notes inched up to 3.73%, and 30-year Treasury bonds inched lower to 4.04%.

WTI crude oil increased $1.20 to $68.85 a barrel, and natural gas prices edged down 10 cents to $2.17 a thermal unit.

Gold rose by $15.90 to $2,504.28 an ounce, and silver increased by $0.41 to $28.34.

The dollar index, which weighs the US currency against a basket of foreign currencies, edged higher to 101.50.

U.S. Stock Movers

Boeing increased 3.3% to $162.86, and the company and the factory workers union agreed on wage and work rules revisions, potentially avoiding a future strike. 

Dell Technologies rose 5.4% to $107.50 and Palantir Technologies advanced 8% to $32.81 after the two companies were selected to be included in the benchmark index S&P 500 index. 

The benchmark index revision index was announced at the end of the market close on Friday. 

Big Lots declined 0.3% to $0.30, and the company agreed to sell its business to an affiliate of Nexus Capital and plans to file for bankruptcy. 

Dollar stores have been under pressure as low-income families have cut down their purchases on non-essential items, and high-income and middle-income households have increased their spending on basic items at stores owned by Walmart and Target. 

European Markets Rebounded Ahead of Monetary Policy Decisions

European markets rebounded amid widespread expectations of a rate cut later in the week.

Benchmark indexes in Paris, London, and Frankfurt advanced 0.6% in active trading, and investors awaited the release of final updates on inflation in Germany, France, and Spain later in the week. 

The European Central Bank is expected to lower rates by 25 basis points at the end of its policy meeting on Thursday, and investors are looking ahead to revised economic projects for the year. 

Consumer price inflation in the eurozone is on a downward slide, but that decline in inflation is largely driven by the fall in energy prices. 

Core inflation, which strips out volatile food and energy price inflation, is still hovering above 3%, indicating that it is well-anchored in the economy and prices are still rising at a faster rate than the 2% target rate set by the European Central Bank. 

The Eurozone’s trade balance is also on tap this week. 

Investors in the U.K. are awaiting the updates on unemployment rate, trade balance, and industrial production. 

Europe Indexes and Yields

The DAX index increased by 0.8% to 18,443.56; the CAC-40 index rose by 0.9% to 7,425.26; and the FTSE 100 index advanced by 1.1% to 8,270.84. 

The yield on 10-year German bonds edged higher to 2.22%, French bonds inched up to 2.93%, the UK gilts edged down to 3.87%, and Italian bonds decreased to 3.51%.

The euro edged down to $1.10; the British pound inched higher to $1.30; and the U.S. dollar strengthened to 84.89 Swiss cents.

Brent crude increased $0.94 to $72.01 a barrel, and the Dutch TTF natural gas rose by €0.86 to €37.24 per MWh. 

Europe Stock Movers

Banks in the eurozone rebounded ahead of the expected interest rate cut later in the week. 

Deutsche Bank gained 2.9% to €15.09, UniCredit jumped 2.2% to €37.04, Societe Generale advanced 2.1% to €22.29, and BNP Paribas increased 1.2% to €62.91. 

Oil explorers rebounded in Monday's trading, tracking a technical rebound in crude oil prices after falling 8% in the previous week. 

Shell PLC gained 1% to 2,542.0 pence, and BP plc edged up 0.5% to 407.65 pence. 

Mining companies edged higher after copper edged up 2% and iron ore stabilized around a four-year low. 

Glencore Plc jumped 1.3% to 371.75 pence, Anglo American Plc advanced 0.7% to 2,040.50 pence, and Antofagasta gained 1.9% to 1,669.50 pence.

Luxury stocks were under pressure after China reported weak consumer price inflation and producer price inflation, confirming ongoing economic growth slowdown. 

Kering SA dropped 3.5% to €228.0, Hermes International increased 0.4% to €1,916.50, and LNMH Moet Hennessey inched up 0.3% to €1,916.50. 

Barratt Developments increased 0.7% to 496.23 pence, and the homebuilder and Lloyds Banking Group, along with the UK government agency Homes England, launched a £165 million joint venture. 

Entain PLC soared 8.3% to 692.20 pence, and the online gambling platform operator said its businesses in the U.K. and Ireland rebounded faster than previously estimated. 

Japan's Nikkei 225 Drops to One-Month Low, Second Quarter GDP Revised Lower 

Weak market indexes persisted for the fifth session in a row, following the sharp sell-off in Friday's trading in New York. 

The Nikkei 225 and the Topix indexes closed down 0.9% and recovered from morning losses of 3%. 

Investors sold stocks on the growing concerns about the health of the U.S. economy and rising domestic inflation and wages, supporting the case for the Bank of Japan to lift rates later in the month. 

Japan's second quarter GDP growth was revised down to an annual rate of 2.9% from the preliminary estimate of 3.1%, the Cabinet Office reported Friday. 

In addition, overall bank lending in Japan increased 3% from a year ago, slightly lower than 3.2% advance in July, the Bank of Japan reported on Monday. 

Bank lending increased to 624.24 trillion yen, and excluding trusts, lending increased 3.6% to 547.3 trillion yen.

Japan's current account surplus also increased 15.1% to 3.19 trillion yen, the Ministry of Finance reported Monday. 

The surplus shot up from 1.53 trillion yen in June, and the trade deficit stood in the month at 4.48 trillion yen after exports increased 9.4% to 9.4 trillion yen and imports soared 16.8% to 9.9 trillion yen. 

Financial account surplus was 2.3 trillion yen, and capital account surplus stood at 20 billion yen. 

Japan Stock Movers 

The Nikkei 225 stock average declined 0.9% to 36,105.29, and the Topix index dropped 0.9% to 2,575.82. 

Tech stocks led the decliners in Tokyo after another down day in New York in Friday's trading. 

Tokyo Electron declined 2.2% to ¥21,500.0, Advantest Corp. dropped 0.6% to ¥5,830.0, and Screen Holdings fell 1.4% to ¥9,569.0. 

Fast Retailing declined 0.5% to ¥43,900.0, Isetan Mitsukoshi fell 2.4% to ¥2,169.0, and Seven & I gained 2.1% to ¥2,185.0. 

Mitsubishi UFJ Financial dropped 2.3% to ¥1,443.00, Sumitomo Mitsui Financial declined 2% to ¥8,990.0, and Mizuho Financial dropped 2.9% to ¥2,838.50. 

Hang Seng Index Plunged 2% as China Inflation Data Confirmed Slowdown Trend 

Stocks in Hong Kong and mainland China faced renewed selling pressure in Monday's trading after investors reviewed the latest inflation reports.

The Hang Seng index dropped nearly 2% and the mainland-focused CSI 300 index dropped more than 1% after deflation worries were compounded by weak global market sentiment. 

China's consumer price inflation rose to 0.6% in August from a year earlier, accelerating from 0.5% in July, the National Bureau of Statistics reported Monday. 

Core inflation, which excludes food and energy prices, increased 0.3% from a year ago as consumers spending retrenched amid falling property prices and a weak job market outlook. 

Producer price index, a measure of wholesale prices, declined 1.8% in August, confirming weakening price trend. according to a separate report by the statistical agency. 

The wholesale inflation measure deepened its slide from 0.8% in July, and the index dropped for the 23rd month in a row, suggesting weak demand conditions. 

Market sentiment was further weakened in Hong Kong amid U.S. rate path uncertainty after the U.S. labor market expanded at a slower pace than in the previous-year pace. 

Market sentiment was weak across Asia after the U.S. economy added about 142,000 net new jobs in August, higher than the revised 89,000 jobs in July but below the market's expectations. 

The moderating labor market conditions supported the case for a rate cut at the policy meeting next week, but policymakers have been sending mixed signals over the last four weeks. 

Investors have been hypersensitive to the U.S. interest rate direction, and the world market indexes plunged between 2% and 6% last week amid rate path uncertainty. 

Global market indexes are likely to tread water with a downward bias until the U.S. monetary policy announcement at the end of a two-day meeting on September 18. 

China Stock Movers 

The Hang Seng index decreased 1.9% to 17,119.54, and the mainland-focused CSI 300 index dropped 1.1% to 3,197.53. 

Tech stocks plunged more than 2% following the market weakness in Hong Kong trading. 

Alibaba Group declined 1.9% to HK $78.25, Tencent Holdings dropped 1.5% to HK $368.0, and JD.com dropped 2.9% to HK $101.30. 

Property developers accelerated the previous week's decline amid rate path uncertainty and weak interim results released last week. 

Longfor Group declined 3.7% to HK $8.27, China Resources Land dropped 4.2% to HK $19.90, China Vanke fell 3.7% to HK $3.92, and Henderson Land Development eased 1.9% to HK $23.40. 

China Renaissance Holdings plunged 66% to HK $2.48, and the boutique investment bank's stock resumed trading after more than one year of trading suspension following the arrest of its founder, Bao Fan. 

U.S. Movers: Boeing, Big Lots, Dell Technologies, Palantir Technologies, Squarespace

Boeing increased 3.3% to $162.86, and the company and the factory workers union agreed on wage and work rules revisions, potentially avoiding a future strike. 

Dell Technologies rose 5.4% to $107.50 and Palantir Technologies advanced 8% to $32.81 after the two companies were selected to be included in the benchmark index S&P 500 index. 

The benchmark index revision index was announced at the end of the market close on Friday. 

Big Lots declined 0.3% to $0.30, and the company agreed to sell its business to an affiliate of Nexus Capital and plans to file for bankruptcy. 

Dollar stores have been under pressure as low-income families have cut down their purchases on non-essential items, and high-income and middle-income households have increased their spending on basic items at stores owned by Walmart and Target. 

Wall Street Indexes Rebound After Toughest Week In 18 Months

U.S. stocks opened higher, and market indexes attempted to rebound from last week's steep losses. 

The S&P 500 index and the Nasdaq Composite edged up 0.9% in early trading as investors reassessed the labor market update released last week. 

In a rocky start to September trading, the S&P 500 index decreased 4.3% and the Nasdaq Composite declined 5.8% in the first week of trading. 

Investors are on edge after the economy added weaker than expected jobs for the second month in a row in August, stoking fears of an economic slowdown. 

U.S. nonfarm payrolls expanded 142,000 in August, faster than the downwardly revised 89,000 additions in July but fewer-than-expected 155,000. 

Despite the current market jitters, the U.S. economy has been adding more than 200,000 a month over the last three years, far above the long-term average monthly increase of 160,000. 

This week, investors are also looking forward to the release of consumer price inflation data on Wednesday and producer price inflation data on Thursday. 

Moreover, the European Central Bank is scheduled to announce its monetary policy decisions on Thursday, and investors are anticipating a rate cut of 25 basis points. 

The U.S. Federal Reserve is scheduled to announce its interest rate policy at the end of its two-day policy meeting on September 18. 

Investors are pinning their hopes on a rate cut of at least 25 basis points, despite the slow progress in core inflation in recent months. 

U.S. Indexes and Treasury Yields

The S&P 500 index increased 0.9% to 5,454.13, the Nasdaq Composite rose 1.1% to 16,874.13, and the Russell 2000 index added 0.4% to 2,100.09. 

The yield on 2-year Treasury notes edged lower to 3.69%, 10-year Treasury notes inched up to 3.73%, and 30-year Treasury bonds inched lower to 4.04%.

WTI crude oil increased $0.66 to $68.29 a barrel, and natural gas prices edged down 6 cents to $2.21 a thermal unit.

Gold rose by $15.90 to $2,502.91 an ounce, and silver increased by $0.28 to $28.22.

The dollar index, which weighs the US currency against a basket of foreign currencies, edged higher to 101.57.

U.S. Stock Movers

Boeing increased 3.3% to $162.86, and the company and the factory workers union agreed on wage and work rules revisions, potentially avoiding a future strike. 

Dell Technologies rose 5.4% to $107.50 and Palantir Technologies advanced 8% to $32.81 after the two companies were selected to be included in the benchmark index S&P 500 index. 

The benchmark index revision index was announced at the end of the market close on Friday. 

Big Lots declined 0.3% to $0.30, and the company agreed to sell its business to an affiliate of Nexus Capital and plans to file for bankruptcy. 

Dollar stores have been under pressure as low-income families have cut down their purchases on non-essential items, and high-income and middle-income households have increased their spending on basic items at stores owned by Walmart and Target. 

Europe Movers: Banks, Barratt Developments, Entain, Lloyds Banking, Luxury Stocks, Mining Companies, Oil Stocks

European markets rebounded from the previous week's decline of 3% and looked ahead to the expected interest rate cuts and inflation updates later in the week. 

The DAX index increased by 0.5% to 18,402.53; the CAC-40 index rose by 0.6% to 7,393.17; and the FTSE 100 index advanced by 0.6% to 8,231.36. 

The yield on 10-year German bonds edged higher to 2.22%, French bonds inched up to 2.93%, the UK gilts edged down to 3.87%, and Italian bonds decreased to 3.51%.

Banks in the eurozone rebounded ahead of the expected interest rate cut later in the week. 

Deutsche Bank gained 2.9% to €15.09, UniCredit jumped 2.2% to €37.04, Societe Generale advanced 2.1% to €22.29, and BNP Paribas increased 1.2% to €62.91. 

Oil explorers rebounded in Monday's trading, tracking a technical rebound in crude oil prices after falling 8% in the previous week. 

Shell PLC gained 1% to 2,542.0 pence, and BP plc edged up 0.5% to 407.65 pence. 

Mining companies edged higher after copper edged up 2% and iron ore stabilized around a four-year low. 

Glencore Plc jumped 1.3% to 371.75 pence, Anglo American Plc advanced 0.7% to 2,040.50 pence, and Antofagasta gained 1.9% to 1,669.50 pence.

Luxury stocks were under pressure after China reported weak consumer price inflation and producer price inflation, confirming ongoing economic growth slowdown. 

Kering SA dropped 3.5% to €228.0, Hermes International increased 0.4% to €1,916.50, and LNMH Moet Hennessey inched up 0.3% to €1,916.50. 

Barratt Developments increased 0.7% to 496.23 pence, and the homebuilder and Lloyds Banking Group, along with the UK government agency Homes England, launched a £165 million joint venture. 

Lloyds Banking Group increased 1.3% to 57.14 pence.

Entain PLC soared 8.3% to 692.20 pence, and the online gambling platform operator said its businesses in the U.K. and Ireland rebounded faster than previously estimated. 

European Markets Attempted a Rebound Ahead of Monetary Policy Decisions Later This Week

European markets rebounded amid widespread expectations of a rate cut later in the week.

Benchmark indexes in Paris, London, and Frankfurt advanced 0.6% in active trading, and investors awaited the release of final updates on inflation in Germany, France, and Spain later in the week. 

The European Central Bank is expected to lower rates by 25 basis points at the end of its policy meeting on Thursday, and investors are looking ahead to revised economic projects for the year. 

Consumer price inflation in the eurozone is on a downward slide, but that decline in inflation is largely driven by the fall in energy prices. 

Core inflation, which strips out volatile food and energy price inflation, is still hovering above 3%, indicating that it is well-anchored in the economy and prices are still rising at a faster rate than the 2% target rate set by the European Central Bank. 

The Eurozone’s trade balance is also on tap this week. 

Investors in the U.K. are awaiting the updates on unemployment rate, trade balance, and industrial production. 

Europe Indexes and Yields

The DAX index increased by 0.5% to 18,402.53; the CAC-40 index rose by 0.6% to 7,393.17; and the FTSE 100 index advanced by 0.6% to 8,231.36. 

The yield on 10-year German bonds edged higher to 2.22%, French bonds inched up to 2.93%, the UK gilts edged down to 3.87%, and Italian bonds decreased to 3.51%.

The euro edged down to $1.10; the British pound inched higher to $1.30; and the U.S. dollar strengthened to 84.89 Swiss cents.

Brent crude increased $0.56 to $71.61 a barrel, and the Dutch TTF natural gas rose by €0.54 to €36.91 per MWh. 

Europe Stock Movers

Banks in the eurozone rebounded ahead of the expected interest rate cut later in the week. 

Deutsche Bank gained 2.9% to €15.09, UniCredit jumped 2.2% to €37.04, Societe Generale advanced 2.1% to €22.29, and BNP Paribas increased 1.2% to €62.91. 

Oil explorers rebounded in Monday's trading, tracking a technical rebound in crude oil prices after falling 8% in the previous week. 

Shell PLC gained 1% to 2,542.0 pence, and BP plc edged up 0.5% to 407.65 pence. 

Mining companies edged higher after copper edged up 2% and iron ore stabilized around a four-year low. 

Glencore Plc jumped 1.3% to 371.75 pence, Anglo American Plc advanced 0.7% to 2,040.50 pence, and Antofagasta gained 1.9% to 1,669.50 pence.

Luxury stocks were under pressure after China reported weak consumer price inflation and producer price inflation, confirming ongoing economic growth slowdown. 

Kering SA dropped 3.5% to €228.0, Hermes International increased 0.4% to €1,916.50, and LNMH Moet Hennessey inched up 0.3% to €1,916.50. 

Barratt Developments increased 0.7% to 496.23 pence, and the homebuilder and Lloyds Banking Group, along with the UK government agency Homes England, launched a £165 million joint venture. 

Entain PLC soared 8.3% to 692.20 pence, and the online gambling platform operator said its businesses in the U.K. and Ireland rebounded faster than previously estimated. 

Japan's Nikkei 225 Drops to One-Month Low, Second Quarter GDP Revised Lower

Weak market indexes persisted for the fifth session in a row, following the sharp sell-off in Friday's trading in New York. 

The Nikkei 225 and the Topix indexes closed down 0.9% and recovered from morning losses of 3%. 

Investors sold stocks on the growing concerns about the health of the U.S. economy and rising domestic inflation and wages, supporting the case for the Bank of Japan to lift rates later in the month. 

Japan's second quarter GDP growth was revised down to an annual rate of 2.9% from the preliminary estimate of 3.1%, the Cabinet Office reported Friday. 

In addition, overall bank lending in Japan increased 3% from a year ago, slightly lower than 3.2% advance in July, the Bank of Japan reported on Monday. 

Bank lending increased to 624.24 trillion yen, and excluding trusts, lending increased 3.6% to 547.3 trillion yen.

Japan's current account surplus also increased 15.1% to 3.19 trillion yen, the Ministry of Finance reported Monday. 

The surplus shot up from 1.53 trillion yen in June, and the trade deficit stood in the month at 4.48 trillion yen after exports increased 9.4% to 9.4 trillion yen and imports soared 16.8% to 9.9 trillion yen. 

Financial account surplus was 2.3 trillion yen, and capital account surplus stood at 20 billion yen. 

Japan Stock Movers 

The Nikkei 225 stock average declined 0.9% to 36,105.29, and the Topix index dropped 0.9% to 2,575.82. 

Tech stocks led the decliners in Tokyo after another down day in New York in Friday's trading. 

Tokyo Electron declined 2.2% to ¥21,500.0, Advantest Corp. dropped 0.6% to ¥5,830.0, and Screen Holdings fell 1.4% to ¥9,569.0. 

Fast Retailing declined 0.5% to ¥43,900.0, Isetan Mitsukoshi fell 2.4% to ¥2,169.0, and Seven & I gained 2.1% to ¥2,185.0. 

Mitsubishi UFJ Financial dropped 2.3% to ¥1,443.00, Sumitomo Mitsui Financial declined 2% to ¥8,990.0, and Mizuho Financial dropped 2.9% to ¥2,838.50. 

Hang Seng Index Plunged 2% as China Inflation Data Confirmed Slowdown Trend

Stocks in Hong Kong and mainland China faced renewed selling pressure in Monday's trading after investors reviewed the latest inflation reports.

The Hang Seng index dropped nearly 2% and the mainland-focused CSI 300 index dropped more than 1% after deflation worries were compounded by weak global market sentiment. 

China's consumer price inflation rose to 0.6% in August from a year earlier, accelerating from 0.5% in July, the National Bureau of Statistics reported Monday. 

Core inflation, which excludes food and energy prices, increased 0.3% from a year ago as consumers spending retrenched amid falling property prices and a weak job market outlook. 

Producer price index, a measure of wholesale prices, declined 1.8% in August, confirming weakening price trend. according to a separate report by the statistical agency. 

The wholesale inflation measure deepened its slide from 0.8% in July, and the index dropped for the 23rd month in a row, suggesting weak demand conditions. 

Market sentiment was further weakened in Hong Kong amid U.S. rate path uncertainty after the U.S. labor market expanded at a slower pace than in the previous-year pace. 

Market sentiment was weak across Asia after the U.S. economy added about 142,000 net new jobs in August, higher than the revised 89,000 jobs in July but below the market's expectations. 

The moderating labor market conditions supported the case for a rate cut at the policy meeting next week, but policymakers have been sending mixed signals over the last four weeks. 

Investors have been hypersensitive to the U.S. interest rate direction, and the world market indexes plunged between 2% and 6% last week amid rate path uncertainty. 

Global market indexes are likely to tread water with a downward bias until the U.S. monetary policy announcement at the end of a two-day meeting on September 18. 

China Stock Movers 

The Hang Seng index decreased 1.9% to 17,119.54, and the mainland-focused CSI 300 index dropped 1.1% to 3,197.53. 

Tech stocks plunged more than 2% following the market weakness in Hong Kong trading. 

Alibaba Group declined 1.9% to HK $78.25, Tencent Holdings dropped 1.5% to HK $368.0, and JD.com dropped 2.9% to HK $101.30. 

Property developers accelerated the previous week's decline amid rate path uncertainty and weak interim results released last week. 

Longfor Group declined 3.7% to HK $8.27, China Resources Land dropped 4.2% to HK $19.90, China Vanke fell 3.7% to HK $3.92, and Henderson Land Development eased 1.9% to HK $23.40. 

China Renaissance Holdings plunged 66% to HK $2.48, and the boutique investment bank's stock resumed trading after more than one year of trading suspension following the arrest of its founder, Bao Fan. 

India Movers: Bank of Maharashtra, Deep Industries, Mazagon Dock, PNB, PNB Housing, Spicejet

Mumbai stocks lacked direction amid weak global market sentiment. 

Investors are looking forward to the release of consumer price inflation and industrial production updates later in the week. 

The Sensex index decreased by 0.1% to 81,150.87, and the Nifty index fell by 0.1% to 24,835.45. 

On the Mumbai stock exchange, 137 stocks traded at their 52-week highs, and 39 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched higher to 6.85%, and the Indian rupee weakened to 83.96 against the U.S. dollar.

Punjab National Bank decreased 0.6% to ₹109.40 and Bank of Maharashtra fell 0.3% to ₹60.17, and the central government approved their secondary offering plans.

Both state-controlled are looking to raise as much as ₹5,000 crore through an institutional offering. 

PNB Housing Finance declined 0.5% to ₹1,016.0, and the residential mortgage lender is looking to raise as much as an additional $125 million in international markets. 

The home loan lender is planning to expand its current loan book of 65,000 crore to 1 lakh crore by the end of March 2028.

Spicejet increased 4% to ₹64.07, and the company is in the early stage of preparing for its 3,200 crore secondary offering. 

Deep Industries increased 15% to ₹455.70, and the company won a ₹1,450 crore order from ONGC to improve its production capacity at its Rajahmundry facility. 

Deep Industry's order backlog at the end of June stood at ₹1,246 crore. 

Mazagon Dock Shipbuilders fell 0.8% to ₹4,366.10, and the company received a 1,486 crore order for subsea pipeline replacement project. 

Wall Street Indexes Wavered After U.S. Jobs Additions Leveled Off

Stocks struggled in early trading on Friday as investors reviewed the latest jobs report and its implication on future rate paths. 

The S&P 500 index decreased 0.2%, and the Nasdaq Composite declined 0.3% after nonfarm payrolls in August accelerated from July but fell short of market expectations. 

The U.S. economy added 142,000 net new jobs in August, higher than the downwardly revised 89,000 jobs in July, according to the U.S. Bureau of Labor Statistics report released on Friday. 

Investors were looking for the nonfarm payroll to increase by at least 155,000 in August. 

The U.S. labor market is clearly softening after expanding by 200,000 jobs a month in 2022 and 2023, but the economy is adding jobs and wages are rising. 

Hourly wages for all employees increased 14 cents, or 0.4%, from the previous month to $35.21 following a 0.2% rise in July, the statistical agency noted. 

Over the past twelve months, wage growth accelerated to 3.8% in August from 3.6% in July, suggesting that higher income will stoke inflationary pressures in the near future. 

Despite the increase in wages, investors are still hoping that the softer labor market conditions are likely to convince policymakers to lower interest later this month. 

U.S. Indexes and Treasury Yields

The S&P 500 index decreased 0.4% to 5,484.27, the Nasdaq Composite fell 0.8% to 17,000.87, and the Russell 2000 index added 2.4% to 2,137.11. 

The yield on 2-year Treasury notes edged lower to 3.70%, 10-year Treasury notes decreased to 3.71%, and 30-year Treasury bonds inched lower to 4.0%.

WTI crude oil increased $0.29 to $69.33 a barrel, and natural gas prices edged up 1 cent to $2.26 a thermal unit.

Gold rose by $5.26 to $2,522.01 an ounce, and silver increased by $0.07 to $28.91.

The dollar index, which weighs the US currency against a basket of foreign currencies, edged higher to 100.88.

U.S. Stock Movers

Broadcom declined 9% to $138.93, and the advanced chipmaker reported slightly lower-than-expected revenue in the fiscal third quarter. 

Revenue in the quarter increased 47% to $13.07 billion from $8.9 billion, net income swung to a loss of $1.88 billion from a profit of $6.12 billion, and diluted earnings per share were a loss of 40 cents compared to an income of $1.24 a year earlier. 

The company said net loss in the current quarter includes one-time tax provision of $4.5 billion related to trading of intellectual property rights between two divisions controlled by the company. 

The company estimated fiscal fourth quarter revenue of $14 billion and adjusted operating earnings margin of 64%. 

Broadcom estimated sales from AI parts and custom chips are likely to be $12 billion in fiscal 2024, higher than the previous estimate of $11 billion. 

UiPath increased 1.2% to $12.90, and the software developer reported better-than-expected second-quarter results. 

DocuSign advanced 1.3% to $57.65, and the e-signature company reported better-than-expected revenue and earnings in its latest quarter. 

Bowlero Group advanced 15% to $12.40, and the bowling alley chain operator reported better-than-expected revenue in the fiscal fourth quarter. 

Europe Movers: Airbus, Berkely Group, Camellia, Elis, Rolls Royce

European markets struggled to advance for the fifth session in a row amid rate path worries and economic growth anxieties. 

The Euro Area second quarter GDP growth was revised slightly lower, and Germany's trade surplus dropped to a four-month low. 

The DAX index decreased by 0.5% to 18,485.08; the CAC-40 index fell by 0.2% to 7,413.79; and the FTSE 100 index declined by 0.3% to 8,214.31. 

The yield on 10-year German bonds edged lower to 2.16%, French bonds inched down to 2.85%, the UK gilts edged down to 3.87%, and Italian bonds decreased to 3.51%.

Airbus declined 1.2% to €130.14 after Europe's air safety regulator ordered a precautionary check on some engines of its A350-100 planes following an engine fire on a Cathay Pacific flight from Hong Kong to Zurich on Monday. 

Cathay Pacific grounded all long-haul Airbus 350-1041 planes for safety checks after a fire was detected shortly after the takeoff from Hong Kong. 

Rolls Royce, which makes engines for the Airbus 350 planes, said it has launched its own investigation as well. 

Rolls Royce declined 0.9% to 473.80 pence.

Elis SA declined 15.4% to €19.56 after Reuters reported that the company has approached Vestis, a former uniform rental business owned by Aramark. 

Berkeley Group Holdings PLC declined 1.6% to 4,908.0 pence, and the UK-based house builder said revenue in the first four months of the fiscal year has been "stable" and reiterated its annual outlook. 

Camellia PLC dropped 5.6% to 4,199.40 pence, and the agriculture company reported a loss of £11 million in the first half. 

European Markets Extend Losses to Fifth Consecutive Day, Eurozone Q2 GDP Growth Revised Lower

European markets struggled to advance for the fifth session in a row amid global growth and rate path worries. 

Benchmark indexes in Paris, London, and Frankfurt declined as investors reviewed the latest updates on international trade balances and second quarter GDP growth revision. 

Euro Area GDP Growth Revised Lower In Second Quarter 

The Euro Area second quarter GDP growth was downwardly revised to 0.2% from the previous estimate of 0.3%, Eurostat reported Friday. 

Economic activities expanded at a slowed pace compared to a 0.3% increase in the first quarter. 

Household consumption edged lower by 0.1%, government spending increased by 0.6%, and gross fixed capital formation or investment declined by 2.2% as high prices and interest rates restrained activities. 

Net international trade contribution was positive after exports increased 1.4% and imports advanced 0.5%. 

Across four large economies of the currency union, economic activities increased by 0.2% in France and Italy, by 0.8% in Spain, but contracted by 0.1% in Germany. 

On an annual basis, economic activities expanded by 0.6% in the second quarter in the Euro Area, matching the preliminary estimate and the strongest expansion in the last five quarters. 

Government spending showed the largest increase with a rise of 2.1%, while household consumption edged up 0.5% and investment shrank 3%. 

Exports increased 1.7% while imports decreased 1.1%.

Germany's Trade Balance Dropped to a 4-Month Low 

Germany's goods trade surplus in July declined from a year ago, after exports and imports fell over the year, according to a preliminary estimate by the Federal Statistical Office, or Destatis, reported Friday. 

Calendar and seasonally adjusted exports declined 1.2% from a year ago to €130 billion, and imports edged down 0.1% to €113.2 billion. 

Trade balance declined to €16.8 billion from €18.3 billion in the corresponding period a year ago. 

Exports to the U.S. decreased 1.7% from the previous month to €12.7 billion, to the People's Republic of China fell 8.0% to €7.3 billion, and to the U.K. declined 2.7% to €6.4 billion. 

Imports from China increased from the previous month by 6.6% to €13.6 billion, rose 5.3% from the U.S. to €7.8 billion, but declined 2.9% to 4.5 billion. 

In nominal terms, not adjusted for calendar and seasonal factors, the international trade surplus increased to €20.7 billion in July from €19.0 billion in the corresponding month a year ago. 

Europe Indexes and Yields

The DAX index decreased by 0.5% to 18,485.08; the CAC-40 index fell by 0.2% to 7,413.79; and the FTSE 100 index declined by 0.3% to 8,214.31. 

The yield on 10-year German bonds edged lower to 2.16%, French bonds inched down to 2.85%, the UK gilts edged down to 3.87%, and Italian bonds decreased to 3.51%.

The euro edged down to $1.11; the British pound inched higher to $1.32; and the U.S. dollar strengthened to 84.22 Swiss cents.

Brent crude increased $0.19 to $72.83 a barrel, and the Dutch TTF natural gas rose by €1.45 to €37.33 per MWh. 

Europe Stock Movers

Airbus declined 1.2% to €130.14 after Europe's air safety regulator ordered a precautionary check on some engines of its A350-100 planes following an engine fire on a Cathay Pacific flight from Hong Kong to Zurich on Monday. 

Cathay Pacific grounded all long-haul Airbus 350-1041 planes for safety checks after a fire was detected shortly after the takeoff from Hong Kong. 

Rolls Royce, which makes engines for the Airbus 350 planes, said it has launched its own investigation as well. 

Rolls Royce declined 0.9% to 473.80 pence.

Elis SA declined 15.4% to €19.56 after Reuters reported that the company has approached Vestis, a former uniform rental business owned by Aramark. 

Berkeley Group Holdings PLC declined 1.6% to 4,908.0 pence, and the UK-based house builder said revenue in the first four months of the fiscal year has been "stable" and reiterated its annual outlook. 

Camellia PLC dropped 5.6% to 4,199.40 pence, and the agriculture company reported a loss of £11 million in the first half. 

Japan's Indexes Extended Weekly Losses to Over 5%

Stock market indexes in Tokyo declined for the third session in a row, following the rise in the yen and resurfacing of the U.S. economic slowdown.

The Nikkei 225 stock average fell 0.5%, and the broader Topix index dropped 0.9%. 

The yen advanced 0.5% to 142.57 against the U.S. dollar and gained 3% in the week amid rising expectations of a rate hike by the Bank of Japan later in the month. 

Market indexes dropped as much as 6% this week, following a weak U.S. manufacturing growth report, followed by a weaker-than-expected increase in private sector payrolls in August.

Weak manufacturing and labor market data raised fears of a wider economic slowdown for the second time in two months, dragging down benchmark indexes in losses for the first time since early August. 

Closer home, investors reviewed the smaller-than-expected increase in household spending in August. 

Household spending, adjusted for seasonal factors and inflation, rose 1.7% from the previous month in July to 290,931 yen, the Ministry of Internal Affairs and Communication said on Friday. 

On a yearly basis, real household spending rose 0.1% following the contraction of 1.4% in the previous month and increased for the first time since April. 

The average monthly household income increased 5.5% in real terms and, in nominal terms, rose 8.9% to 694,483 yen. 

Japan Stock Movers 

The Nikkei 225 stock average decreased 0.5% to 36,474.15, and the Topix index dropped 0.9% to 2,597.94. 

For the week, the Nikkei 225 declined 6.5% and the Topix fell 4.6%.

Financial markets in Hong Kong were closed, and the city and Vietnam closed airports ahead of the arrival of Typhoon Yagi.

Seven & I declined 1.2% to ¥2,139.0, and the company said the acquisition offer from Canada-based Couche Tard undervalues the convenience chain operator. 

Tech stocks were under pressure following weakness in the sector in Thursday's trading on Wall Street. 

Advantest Corp. fell 1.9% to ¥5,835.0, Tokyo Electron decreased 2% to ¥21,965.0, and Screen Holdings increased 0.8% to ¥9,648.0. 

Retailers were in focus after the yen strengthened against the U.S. dollar. 

Aeon Co. increased 2.4% to ¥3,838.0, Isetan Mitsukoshi gained 1.1% to ¥2,211.0, and Fast Retailing added 0.7% to ¥44,330.0. 

Nippon Steel declined 2.2% to ¥3,080.0, IHI Corp fell 0.6% to ¥6,199.0, Kawasaki Heavy Industries dropped 3.3% to ¥4,705.0, and Keyence decreased 3.7% to ¥63,870.0.