More worries on China's economic slowdown & regulatory crackdown

OANDA senior market analyst Jeffrey Halley on Asian Midday Marketwatch Jeff shares his views on regional markets performances and speaks on the key issues namely: China's factory activity expanded at a slower pace in August as coronavirus-related restrictions and high raw material prices pressure manufacturers in the world's second largest economy, while services activity contracted sharply, as national data showed this morning. Jeff outlines his expectations and the impact to Asian markets, particularly ASEAN markets Beijing on Monday limits kids under 18 playing online games to just three hours a week - an hour on Fridays, weekends and holidays - which analysts expect will continue to weigh in on tech stocks. He comments on this and talks about a "cultural shift “ and a long term process” which will weigh in on growth and valuation of tech stocks The slower growth in China and how it will impact ASEAN. Jeff holds the view that a rate cut and more stimulus will then have a modest positive for Asia as a whole Oil markets: US crude fell 0.51% to $68.86 a barrel and Brent was down 0.56% at $73 a barrel in Asian trade as Hurricane Ida weakened into a Category 1 hurricane within 12 hours of coming ashore. It's not clear at the moment what the real impact will be. Eyes on OPEC+ meeting after hurricane Ida hits; i) short term supply shock is relieved ii) OPEC+ meeting could mean more future supply iii) Crude oil may return to weakness after strong rebound for about 10% last week Jeff’s view is that underlying demand remains robust and OPEC+ will be happy at a USD70 - USD75 price range Data we should be looking out for this week; i) Kaizen survey tomorrow ii) Manufacturing PMI’s across Asia tomorrow iii) On Friday, It the US Non-farm payroll will impact markets depending on how the numbers pan out. [embed]https://youtu.be/-13I0txVQtA[/embed] Guest: Jeffrey Halley , Senior Market Analyst, Asia Pacific, OANDA Presenter: Brian Fernandez Check out more Asian Midday Marketwatch here

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