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A study of China’s affluent released this month by consulting firm Oliver Wyman found that 22% of respondents to a May survey had a negative attitude toward the economy. This figure is slightly higher than the 21% in October 2022 before Beijing announced the relaxation of its strict zero-COVID policy.
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Asia-Pacific markets were mixed as investors focused on private data on Chinese factory activity in January.
Japanese Nikkei 225 Index Futures opened stronger, with the Chicago contract at 53,670 points and the Osaka contract at 53,590 points, while the previous closing price was 53,322.85 points.
Hong Kong’s Hang Seng Index futures were at 27,330 points, below the benchmark’s last closing point of 27,387.11 points.
Australian S&P/ASX 200 Index down 0.57%.
Investors will continue to focus on gold and silver prices after Friday’s sharp gains reject. Silver, which has more than doubled in the past 12 months, plunged around 30% on Friday, the metal’s worst single-day performance since 1980. Gold also fell about 9%.
Spot gold last traded at $4,744 an ounce, while silver was around $80 an ounce.
Futures tied to the main U.S. benchmark fell in early Asian trade as Wall Street began a new month of trading, with traders keeping a close eye on Bitcoin after a weekend selloff.
Dow Jones Industrial Average Futures It fell 143 points, or 0.3%. S&P 500 Index Futures fell 0.6%, while Nasdaq 100 Futures Shed off nearly 1%.
Bitcoin fell below $80,000 for the first time since April, a sign that investors are avoiding more risk after a sharp rise. Gold and silver fall.
Bitcoin last traded at about $76,700.
U.S. stocks retreated on Friday as technology stocks remained in the doldrums, even as investors largely approved of U.S. President Donald Trump’s choice of Kevin Warsh to be chairman of the Federal Reserve.
despite this, S&P 500 Index January’s gains came despite Friday’s losses and volatile trading this month. The Composite Index fell 0.43% to close at 6,939.03 points, falling for the third consecutive day.
this Dow Jones Industrial Average It fell 0.36% to close at 48,892.47. High-tech Nasdaq Composite Index Underperforming, it fell 0.94% to close at 23,461.82 points. All three major stock indexes fell more than 1%, hitting session lows.
—CNBC’s Fred Imbert, Alex Harring, Lisa Kailai Han and Pia Singh contributed to this report.
