Stocks are under pressure due to poor Chinese data and Fed uncertainty.

On Friday, Asian markets traded in a flat-to-low range as disappointing Chinese economic data and mounting worries about interest rate rises in the United States dampened mood, albeit Chinese stocks gained from some bargain buying and stimulus hopes.

A high overnight finish on Wall Street provided little assistance for regional markets, as statistics revealed that the United States economy grew faster than predicted in the first quarter.

However, this resiliency contributed to concerns that the Federal Reserve will have more economic space to continue rising interest rates, keeping sentiment on edge.

Further attention is now being paid to future personal consumption expenditures price index data – the Fed's favoured inflation gauge – for further clues on the course of interest rates. This is due later today.

According to data released on Friday, China's manufacturing sector declined for the third consecutive month in June, while non-manufacturing activity dropped more than predicted.

The data hinted to additional economic suffering for the country as Beijing tries to shore up the country's faltering post-COVID economic recovery.

However, the poor statistics raised the prospect of more government stimulus measures, which might bolster local liquidity and strengthen Chinese stock markets.

Key developments today:

• German Unemployment Rate (Jun) due at 08:55 GMT
• Eurozone Core CPI (YoY) (Jun) due at 10:00 GMT
• US Core PCE Price Index (MoM) (May) due at 13:30 GMT

(Sources: investing.com, reuters.com)