(Bloomberg) — Financial markets kicked off the week on a cautious note after China’s Finance Ministry briefing at the weekend underwhelmed and a drop in factory prices reinforced concerns about the economy.
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The Australian and New Zealand dollars slipped against the greenback in early trading on Monday, while China’s yuan also weakened. US stock futures edged lower, while the MSCI Asia-Pacific share index eked out a gain.
Investors will be monitoring markets after China’s Finance Minister Lan Fo’an vowed more support for the struggling property sector and hinted at greater government borrowing, without producing a headline monetary figure that markets had sought. Underscoring the extent of slack in the economy, data showed Chinese consumer prices were still weak and that factory-gate prices fell for a 24th straight month.
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