Asian shares retreat after soft data from China

May 15, 2018 - By Jacob Falcon

Asian shares retreat after soft data from China

Asian shares retreat after soft data from China

This Tuesday Asian shares arose, cutting down its former strict lead at the Wall Street, after investors have finally recovered from weak economic data in China.

Now experts are waiting for the news on China- US diplomatic and trading agreements and North Korean situation.

Meanwhile, prices on crude oil are near the 3-1 and 2 year highs on concerns over supply. Dollar jumps high and bond yields follow the same strategy.

As for the European market, specialists predict that it will follow lower Asian trend. British index FTSE, French CAC and German DAX, they all are expected to go 0.2 percent down this day.

Meanwhile, MSCI Asian-Pacific broadest index outside Japan went down, and lost 0.8 percent. It happened right after it was on its highest peak since the end of March. Its three last sessions were marked by the constant increase.

Japanese index Nikkei lost 0.1 percent.

According to the strategist for the global markets, Yoshinori Shigemi from JP Morgan in Tokyo, it looks like Asian markets need to make pause after the recent unexpected rise. Now, analysts and traders, all are waiting for the updates on the USA – China trading deals topics. There is another event that will definitely have its influence on Asian market. It is upcoming summit in Washington with North Korean officials.

Hang Seng index from Hong Kong went down and lost 0.9 percent today, ending its five day winning raw.

Chinese weak retail sales and investments dragged down its indexes.

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