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Investors await China’s first-quarter GDP


SINGAPORE — Shares in Asia largely slipped in Monday morning trade as investors await Chinese economic data, including the economic powerhouse’s first-quarter gross domestic product figures.

Japan is home to the Nikkei 225As shares of Fast RetailingAnd SoftBank GroupThe average decline was more than 1%. Topix lost 1.64%.

Stocks of mainland China also fell, as was the Shanghai compositeThe decrease was about 1% Shenzhen componentSave 1.484%

At 10:00 a.m. HK/SIN, a slew economic data from China will be available, including first-quarter GDP figures and March industrial production numbers.

This data is available at a time when mainland China has been fighting its worst Covid wave since two years. The data focuses on the major city of Shanghai has been among the areas most affected.

South Korea KospiIt outperformed other regions by climbing 0.15%. The MSCI Asia-Pacific share index outside Japan was 0.33% less.

Asia’s markets could “tread cautiously to begin the week” after investors take in the People’s Bank of China’s latest reserve ratio reduction, OCBC Treasury research analysts from Singapore wrote in a Monday memo. RRR stands for the reserve requirement ratio, which is how much money banks have to keep in reserve.

Analysts stated that this is the smallest reduction since China revealed the reform of the reserve requirement ratio in 1998.

Friday will be Chinese central bank also unexpectedly held steady on a key interest rateDespite anticipation for additional stimulus, they are still positive.

Monday is a holiday in Australia, Hong Kong and Hong Kong.

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Oil and currencies

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 100.541 — continuing to hold above the 100.4 level after a recent bounce from below 100.

The Japanese yenThe dollar traded at 126.22 per dollar, after falling below 125 last week. After falling below 125 last week, the dollar traded at 126.42 dollars. Australian dollarThe price was $0.7385 less than levels of $0.747 last week.

The morning Asia trading hour saw oil prices rise, with benchmarks internationally. Brent crude futures 0.96% higher at $112.77 per barrel. U.S. crude futuresThe price of a barrel rose by 0.92%, to $107.93