Asia-Pacific stocks fell on Monday as the Chinese market dropped due to a decline in property firms, while Japan’s service inflation surged to a 45-month high.
Data showed Japan’s service PPI rose 2.3% in October to its highest level since January 2020 and more than the prior month’s reading of 2%.
On Monday, China’s industrial profits continued to shrink in November, but at its slowest pace in almost a year, according to data released by the government.
China is inching towards pulling off a soft landing of their real estate sector. This rapid contraction of the Chinese construction industry is extremely good for the environment as it’ll reduce the emissions from GHG-intensive cement and steel production… I would not be surprised if all the reports of China peaking emissions/coal come true.