Meanwhile, Australia’s ASX 200 Index fell 0.28% on Monday morning. Banking, mining and oil-related stocks fell. Soft inflation figures in China fueled concerns about demand for raw materials.
Mining giants BHP Group Ltd. (BHP) and Rio Tinto Ltd. (RIO) fell by 0.42% and 0.54% respectively. Iron ore futures fell 0.12% in the morning.
Woodside Energy Group Ltd. (WDS) fell 1.37% after Friday’s drop in oil prices.
Meanwhile, ANZ tumbled 3.05% on news of CEO Shayne Elliot’s retirement plans, fueling uncertainty over his replacement.
Outlook
Market sentiment remains sensitive to updates from Beijing and global central banks. Positive stimulus signals from China could boost risk appetite, but interest rate policies from the Fed, RBA and BoJ will continue to influence investor decisions.
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