Asia-Pacific stocks mixed after lacklustre Chinese economic data

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Asia Pacific markets traded mixed as investors remained cautious after stalemate over a second coronavirus-aid plan continued and unexpected fall in China’s retail sales.

Japan +0.21%.

China -0.16%. Retail sales dropped 1.1% on year, missing predictions for a 0.1% rise and following a 1.8% fall in June. Industrial output in July grew 4.8% Y/Y, in line June but missed forecasts of a 5.1% rise.

Hong Kong -0.19%.

Australia +0.66%. The Country recorded its lowest one-day rise in infections in more than three weeks, as Melbourne remains under strict lockdown.

House Speaker Nancy Pelosi said the two sides remain “miles apart” in the stimulus talks, and Senate Majority Leader Mitch McConnell officially sent senators home for a three-week summer recess, though they may be recalled if there is a breakthrough to vote on.

Sino-U.S. tensions continued to weigh on sentiment, as investors await a meeting between top U.S. and Chinese trade officials on Saturday to review the first six months of the Phase 1 trade deal.

U.S. stock futures are trading higher. Dow +0.14%; Nasdaq +0.25%. S&P +0.17%.

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