6:00 AM EST – Germany’s ZEW Economic Sentiment
7:30 AM EST – United Kingdom’s spring forecast statement
8:30 AM EST – US core consumer price index (February)
4:30 PM EST – US API weekly crude oil stock
7:50 PM EST – Japan’s monetary policy meeting minutes
10:00 PM EST – China’s fixed asset investment (February)
10:00 PM EST – China’s industrial production (February)
10:00 PM EST – China’s retail sales (February)
After regaining strength last week, China’s Shanghai Composite Index started this week on a stronger note by moving to two-week high price levels on Monday. However, the Shanghai Composite Index opened lower on Tuesday and declined amid weak market sentiment.
The market sentiment was dented by concerns about the impact of a government reshuffle. China’s government is making changes like merging banking and insurance regulators and extending policymakers’ power like the People’s Bank of China. Amid the uncertainty, the healthcare and consumer sectors pulled back on Monday. On the other hand, the market is looking forward to the release of China’s fixed asset investment, retail sales, and industrial production data. The data are scheduled to be released at 10:00 PM EST today.
The Shanghai Composite Index fell 0.46% and closed the day at 3,311.28 on March 13. The SPDR S&P China (GXC) rose 0.3% on March 12.
Hong Kong’s Hang Seng Index started this week on a stronger note. The index closed at the highest daily close in five weeks on Monday. However, the Hang Seng Index lost momentum on Tuesday and consolidated at elevated price levels. The reduced risk appetite ahead of the release of major US and China economic data on Tuesday limited the market movements. On March 13, the Hang Seng Index fell 0.16% and closed the day at 31,545.00. The iShares MSCI Hong Kong (EWH) rose 0.65% on Monday.
After starting this week on a stronger note, Japan’s Nikkei Index opened lower on Monday. The market caution ahead of the release of US inflation data weighed on the Nikkei Index. Strength in the construction, machinery, and food industries supported the market. The market is looking forward to the release of Japan’s monetary policy meeting minutes. The meeting minutes are scheduled to be released at 7:50 PM EST today.
On March 13, the Nikkei Index gained 0.66% and closed the day at 21,968.10. The iShares MSCI Japan (EWJ) rose 0.12% on Monday.
In the next part, we’ll discuss how European markets performed in the early hours on March 13.