Asian Markets React to China's Economic Slowdown

Shares in Asia were mixed on Monday following slower factory output in China for May. US futures declined and oil prices dropped. Major Asian indices like Tokyo's and Seoul's saw decreases, while Hong Kong's Hang Seng slightly rose. Property investments in China also witnessed a significant year-on-year drop.

In a mixed trading session on Monday, Asian markets grappled with new data showing a slowdown in Chinese factory output for May.

Tokyo's shares dropped by 1.9% to close at 38,070.40, while the Kospi in Seoul decreased by 0.5% to 2,744.63. Meanwhile, Hong Kong's Hang Seng inched up by 0.1% to register 17,960.09, but the Shanghai Composite index fell by 0.6% to 3,015.95.

China's National Bureau of Statistics reported a 5.6% decline in factory output, falling short of analysts' expectations, while retail sales saw a modest increase of 4.1% for the first five months of the year. In a concerning trend for the property sector, investments plummeted by 10% year-on-year, and property sales plunged by 30.5%, exacerbating the economic gloom.

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