mardi 14 avril 2015
Asia braced for China data after U.S. disappoints
Posted on 22:52 by nice news
Asian share markets took a cautious stance on Wednesday ahead of an anxiously-awaited reading on China's growth pulse, while the dollar nursed losses after a disappointing reading on consumer spending nudged bond yields lower.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was all but flat, while Japan's Nikkei .N225 inched down 0.2 percent.
China's annual economic growth likely slowed to a six-year low of 7 percent in the first quarter as demand at home and abroad faltered, fanning expectations of more policy stimulus to avert a sharper slowdown.
A poor trade performance in March has stirred talk growth could even be under the psychologically important 7 percent level, a result that would likely hamper regional stocks and hit commodity currencies such as the Australian dollar.
Yet China's stock markets have tended to focus on the prospect of extra stimulus and touched fresh seven-year highs on Tuesday. The Shanghai Composite .SSEC has been rising for six weeks straight and is probably due a pause for consolidation.
Wall Street had ended mostly higher on Tuesday, helped by energy stocks and quarterly earnings reports that topped modest expectations following worries about a strong dollar.
The Dow .DJI rose 0.33 percent and the S&P 500 .SPX 0.16 percent, while the Nasdaq .IXIC fell 0.22 percent.
After the bell
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was all but flat, while Japan's Nikkei .N225 inched down 0.2 percent.
China's annual economic growth likely slowed to a six-year low of 7 percent in the first quarter as demand at home and abroad faltered, fanning expectations of more policy stimulus to avert a sharper slowdown.
A poor trade performance in March has stirred talk growth could even be under the psychologically important 7 percent level, a result that would likely hamper regional stocks and hit commodity currencies such as the Australian dollar.
Yet China's stock markets have tended to focus on the prospect of extra stimulus and touched fresh seven-year highs on Tuesday. The Shanghai Composite .SSEC has been rising for six weeks straight and is probably due a pause for consolidation.
Wall Street had ended mostly higher on Tuesday, helped by energy stocks and quarterly earnings reports that topped modest expectations following worries about a strong dollar.
The Dow .DJI rose 0.33 percent and the S&P 500 .SPX 0.16 percent, while the Nasdaq .IXIC fell 0.22 percent.
After the bell
Asia braced for China data after U.S. disappoints
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