Asian stocks dip as middling China PMIs offset Fed pause bets By

-- Most Asian stocks moved in a flat-to-low range on ghc foreign exchange official websiteThursday as mixed business activity data from China offset growing optimism over the Federal Reserve potentially ending its rate hike cycle. 

Concerns over China’s property market also weighed, as Holdings (HK:), China’s biggest property developer, logged a massive, nearly $7 billion loss and warned of a potential default.

Still, losses in regional stocks were limited tracking some positive cues from Wall Street. on Wednesday as softer-than-expected and pointed to the Fed having limited economic headroom to keep raising interest rates. More U.S. economic readings are also on tap this week. 

But most Asian indexes were nursing steep losses for August, given that U.S. rates are likely to remain higher for longer. Concerns over an economic slowdown in China also dented sentiment towards the region. 

Some strong regional economic readings helped. Japan’s index rose 0.5%, buoyed by stronger-than-expected data for July, although a separate reading showed that declined further in the month. The Nikkei was also trading down nearly 2% for August.

South Korea’s fell 0.4% on Thursday, hit by a bigger-than-expected decline in and , as the country grapples with high interest rates and sticky inflation. The KOSPI was also down 3.2% for August. 

Hong Kong’s index was kept in positive territory by strength in heavyweight tech stocks, while Country Garden also saw some bids on hopes that the government will offer more support to the property market. Some provincial governments in China cut mortgage rates this week to help support the beleaguered sector.

Chinese shares dip after mixed PMIs, stimulus measures in focus 

China’s and indexes fell between 0.1% and 0.2%, after data showed that the country’s shrank for a fifth straight month in August, albeit at a slower-than-expected pace.

But activity grew less than expected in the month, fueling concerns that a property sector slowdown was taking its toll on the economy.

Chinese indexes were also by far the worst Asian performers in August, down between 5% and 8%. The Hang Seng in particular saw steep losses on weakness in property stocks earlier in the month.

Markets are now awaiting more stimulus measures from China, with media reports suggesting that the People's Bank is likely to cut mortgage and deposit rates in the coming weeks.

Concerns over China kept Australia’s trading sideways on Thursday, with the index set for a 1.5% loss in August. 

Indian shares see muted open ahead of GDP data

Futures for India’s index pointed to a muted open ahead of key , due later in the day. 

The Indian economy is expected to have grown 7.7%, its fastest pace in a year, thanks to robust industrial production and consumer spending. 

But the Nifty was still trading down 2% for August, hit by a mix of profit taking and weakness in technology stocks. 

Concerns over a resurgence in Indian inflation also weighed, as high vegetable prices and a weak monsoon spurred a substantially higher-than-expected reading for July. 

Statement: The content of this article does not represent the views of FTI website. The content is for reference only and does not constitute investment suggestions. Investment is risky, so you should be careful in your choice! If it involves content, copyright and other issues, please contact us and we will make adjustments at the first time!