Asian stock markets faced a challenging month, experiencing their worst performance since February. The dismal sentiment was fueled by disappointing factory readings from China, contributing to the overall pessimism among investors. Meanwhile, market participants were anxiously awaiting a stream of economic data from the United States, which could potentially reinforce the belief that interest rates have reached their peak.
The persistently gloomy factory readings from China weighed heavily on Asian shares, revealing the ongoing challenges faced by the world’s second-largest economy. As investors digested this negative news, they cautiously awaited the release of upcoming U.S. data. This data was expected to provide further insights into the state of the American economy and potentially influence market expectations regarding the trajectory of interest rates.
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