Asian stocks mostly lower on U.S. shutdown, Chinese data

Investing.com ג€' Most Asian stocks traded lower Monday as the U.S. government shutdown stretched in another week and following some discouraging Chinese data points. Japanese markets are closed today for a holiday. In Asian trading Monday, Hong Kongג€™s Hang Seng jumped 1.16% and the Shanghai Composite added 0.40% despite the aforementioned disappointing data points. Earlier Monday, Chinaג€™s National Statistics Bureau said the countryג€™s producer price index (PPI) contracted 1.3% last month after falling 1.6% in August. Analysts expected a September decline of 1.4%. In a separate report, the Statistics Bureau said Chinaג€™s consumer price inflation rose to 3.1% last month from 2.6% in August. Analysts expected a September increase to 2.9%. Over the weekend, China, the worldג€™s second-largest economy said September exports contracted 0.3%, well below analystsג€™ estimates of growth of 6%. Imports rose 7.4%. Those data points weighed on Australian stocks sending that countryג€™s S&P/ASX 200 down 0.8%. The Australian Bureau of Statistics said that Australian home loans fell 3.9% last month after a 2.1% rise in August. Analysts expected a September decrease of 2.5%. Riskier assets came under pressure as U.S. policymakers are still deadlocked regarding reopening the government. Some traders are growing skittish that such an agreement will not arrive in enough to avert debt ceiling debacle. The U.S. must raise the debt ceiling by October 17 or risk defaulting on its sovereign debt obligations. New Zealandג€™s NZSE 50 lost 0.28%. Like Australia, New Zealand, counts China as its largest export market. South Koreaג€™s Kospi inched down 0.05% Singaporeג€™s Straits Times Index shed 0.72 after the city-state said its third-quarter GDP fell 1% following a second-quarter surge of 16.9%. Economists expected a 4% contraction. S&P 500 futures slumped 0.67%. The benchmark U.S. index climbed 0.63% last Friday.