Asia kicks off September with eyes on Beijing

+ US employment report on tap

View in Browser Sign up for Reuters newsletters Morning Bid Asia A look at the day ahead in Asian and global markets By Jamie McGeever, Columnist, Global Finance & Markets Data refreshes every time you open this email. For more Asian market news, click here. Please send any feedback to morningbid@thomsonreuters.com. Asian stocks could start September with a choppy session on Friday, as crucial U.S. economic data showed monthly inflation on the wane, a second take on China manufacturing PMI expected to show modest improvement and the U.S. employment report on tap. Today's Market News Wall Street ends mixed as inflation data buoys optimism Super typhoon heads towards Hong Kong, China issues highest warning Emerging markets beaten back in August as China chills the mood A person rides a scooter past a construction site of residential buildings by Chinese developer Country Garden, in Tianjin, China August 18, 2023. REUTERS/Tingshu Wang China concerns weighing on investor sentiment As investors turn the page to a fresh new month, any hint that central bank leaders could be nearing the end of a tightening cycle, thereby avoiding a potential global economic downturn, is likely to feed appetite risk.   Following in the wake of downbeat data, which showed China factory activity notched a fifth consecutive month in contraction territory, any upward surprise to the Caixin manufacturing PMI figure - expected to improve slightly to 49.3, less than a point below the contraction/expansion dividing line - could lure buyers back to Chinese equities markets. Graphics are produced by Reuters. Concern about sluggish demand in China has weighed on investor sentiment of late, with the blue-chip CSI 300 index in August clocking its largest monthly percentage decline since last October, and the Shanghai SE Composite <.SSEC> suffering its steepest percentage drop since September 2022.   China's real estate woes mount, with the nation's largest private property developer Country Garden warning of default risk after posting a $6.7 billion net loss in the first half of the year.   But September could offer a fresh start.   Recent policy decisions and other steps taken by Beijing and Chinese firms to jump start investor sentiment and support local markets has had an effect. Chinese stocks this week posted back-to-back gains of 1% or more for the first time since January. Here are key developments that could provide more direction to markets on Friday: South Korea - import/export growth, PMI (August) China - Caixin manufacturing PMI (August) Australia - owner-occupied housing financing (July) Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. Sponsors are not involved in the creation of newsletters or other Reuters news content. Morning Bid is sent every morning. Think your friend or colleague should know about us? Forward this newsletter to them. They can also sign up here.   Want to stop receiving this newsletter? Unsubscribe here. To manage which newsletters you're signed up for, click here. Reuters Terms & Conditions and Privacy Statement © 2023 Thomson Reuters. All rights reserved. 3 Times Square, New York, NY 10036