By Scott Murdoch SYDNEY (Reuters) - Asia stock markets weakened on Monday as investors in China sold off shares in property developers, remaining ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSBy Scott Murdoch
The Hang Seng Property Index, a gauge of Hong Kong's top developers, shed almost 4% while the mainland property index was off 3.24%. Hong Kong stocks were also dampened as e-commerce giant Alibaba Group dropped 3.1% on the surprise departure of outgoing CEO Daniel Zhang from its cloud unit.In the United States, the Consumer Price Index for August, due out on Wednesday, is expected to rise 0.6% month-on-month for August, which would take the year on year rate to 3.6%, according to a Wells Fargo research note.
In China, there was an easing of deflationary pressures with consumer price index rising 0.1% in August from a year earlier. That was slower than the median estimate for a 0.2% increase in a Reuters poll but much stronger than a 0.3% decline in July. European gas prices have been volatile since August when news of the potential labour unrest first broke.