CNBC Daily Open: Is progress on inflation stalling?
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here .
China stocks rise
Asia markets were mixed Monday as Chinese stocks climbed on the back of positive travel data, while Hong Kong stocks dropped. The CSI 300 gained as trading resumed after the Lunar New Year holidays and the Hang Seng index fell. U.S. stocks closed Friday in the red after hotter-than expected producer price index data for January. The benchmark S&P 500 slipped, while the Dow lost 0.37% and the Nasdaq Composite fell 0.82%. Wall Street is closed Monday for Presidents Day.
Weak dollar on Asian currencies
The U.S. Federal Reserve is expected to cut interest rates later this year, which may boost some Asian currencies as a weak U.S. dollar is seen as positive for emerging markets. The Chinese yuan, the Korean won and the Indian rupee are expected to benefit from the Fed's easing monetary policy.
Boeing no show
Boeing will not have any commercial aircraft at the Singapore Airshow after recent troubles over a midflight blowout of a fuselage panel on one of its 737 Max 9s in January. This means its rival Airbus and China's homegrown passenger jets will grab the spotlight at the event held this week.
Sony margins
Sony's declining margins in its critical gaming business has become a major issue despite higher-margin products like digital game sales and its PS Plus subscription service. The Japanese tech giant slashed its sales forecast for its flagship PlayStation 5 console for the fiscal year, which wiped off around $10 billion off its market value last week.
[PRO] Bullish on equities
Morgan