SHANGHAI: Shares in Asia fell on Tuesday as readings on China's manufacturing activity failed to meet expectations, underscoring weakness in the world's second-largest economy despite Beijing's attempts to spur growth.Both official and private business surveys pointed to slower Chinese factory growth this month, dashing hopes for a steady reading or even a faster expansion. Data also showed a slower expansion in its services sector, adding to economic uncertainty.The dollar-denominated MSCI index of Chinese shares dropped 0.8 percent. But Chinese blue chips in Shanghai and Shenzhen kept losses in check, losing less than 0.1 percent as investors maintained hopes for further measures to prop up the economy.The weak manufacturing numbers suggest "stimulus is there to stay," said Frances Cheung, head of macro strategy for Asia at Westpac. Upbeat data for March had prompted some analysts to scale back expectations of additional support measures.MSCI's broadest gauge of Asia-Pacific shares … [Read more...] about Asian shares fall as China manufacturing data disappoints
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News Asian shares dip as investors await China data, Fed
SHANGHAI -- Shares in Asia fell on Tuesday despite another record high close for the S&P 500, as investors await a US Federal Reserve policy decision for clues on whether it would continue to take a "patient" approach to interest rate policy. Traders were also cautious ahead of readings on China's factory activity, hoping for more signs that the world's second-largest economy is starting to stabilize in response to a flurry of stimulus measures. MSCI's broadest gauge of Asia-Pacific shares outside Japan was off 0.1 percent, weighed by weakness in Korean shares, which fell 0.4 percent. Australian equities fell 0.3 percent, while New Zealand's benchmark S&P/NZX 50 index rose 0.3 percent. Japan's financial markets remain closed for a national holiday as Japanese Emperor Akihito prepares to abdicate on Tuesday in favor of his elder son, Crown Prince Naruhito. Asia's wobbly open followed cautious gains on Wall Street overnight that nevertheless lifted the S&P 500 index to an … [Read more...] about News Asian shares dip as investors await China data, Fed
Asian shares dip as investors await China data, Fed
SHANGHAI: Shares in Asia fell on Tuesday despite another record high close for the S&P 500, as investors await a U.S. Federal Reserve policy decision for clues of whether it will continue to take a "patient" approach to interest rate policy.Traders were also cautious ahead of readings on China's factory activity (0100 GMT), hoping for more signs that the world's second-largest economy is starting to stabilize in response to a flurry of stimulus measures.MSCI's broadest gauge of Asia-Pacific shares outside Japan was off 0.1 percent, weighed by weakness in Korean shares, which fell 0.4 percent.Australian equities fell 0.3 percent, while New Zealand's benchmark S&P/NZX 50 index rose 0.3 percent.Japan's financial markets remain closed for a national holiday as Japanese Emperor Akihito prepares to abdicate on Tuesday in favor of his elder son, Crown Prince Naruhito.Asia's wobbly open followed cautious gains on Wall Street overnight that nevertheless lifted the S&P 500 index to … [Read more...] about Asian shares dip as investors await China data, Fed
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News Asian shares rise on strong US GDP, eyes on Fed, China
SHANGHAI -- Asian stock markets edged up on Monday after surprising strong US first-quarter economic growth boosted the S&P 500 index to a record high, but gains were capped by caution over less upbeat aspects in the GDP report which pointed to some weakening ahead. Investors were also awaiting a meeting of the US Federal Reserve this week and Chinese factory data for further clues on policy direction in the world's biggest economies. MSCI's broadest index of Asia-Pacific shares outside Japan was up less than 0.1 percent, edging higher after posting its biggest weekly drop in more than a month last week. Australian shares were down 0.26 percent, while Seoul's KOSPI was up 0.4 percent. Japan's financial markets are closed for a long national holiday this week, but Nikkei 225 futures in Singapore were 0.72 percent higher. In contrast with weakness in Asian markets last week, Wall Street ended Friday on a high note following data showing US gross domestic product grew at a faster 3.2 … [Read more...] about News Asian shares rise on strong US GDP, eyes on Fed, China