{"id":139151,"date":"2021-09-19T13:08:38","date_gmt":"2021-09-19T13:08:38","guid":{"rendered":"https:\/\/precoinnews.com\/?p=139151"},"modified":"2021-09-19T13:08:38","modified_gmt":"2021-09-19T13:08:38","slug":"asian-shares-stabilise-but-global-growth-fears-nag","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/business\/asian-shares-stabilise-but-global-growth-fears-nag\/","title":{"rendered":"Asian shares stabilise but global growth fears nag"},"content":{"rendered":"

HONG KONG (Reuters) – Asian shares steadied in early trading on Friday after losses earlier in the week, but China jitters and global growth concerns weighed on investors\u2019 minds, while the dollar sat near a three-week high.<\/p>

FILE PHOTO: Investors stand in front of an electronic board showing stock information on the first trading day after the week-long Lunar New Year holiday at a brokerage house in Shanghai, China, February 15, 2016. REUTERS\/Aly Song\/\/File Photo<\/figcaption>

MSCI\u2019s broadest index of Asia-Pacific shares outside Japan recovered from early losses to trade flat, but was still down 2.7% on the week.<\/p>\n

Hong Kong\u2019s Hang Seng Index rose 0.5% after posting its lowest close in 10 months the day before, as the saga around China Evergrande Group lurched towards a conclusion, unsettling investors.<\/p>\n

The embattled property developer\u2019s shares dropped a further 5% on Friday.<\/p>\n

Australian shares fell 1.03%, as a fall in iron ore prices hurt miners. However, Chinese blue chips eked out a 0.26% rise and Japan\u2019s Nikkei edged up 0.42% to head back towards a 31-year high hit on Monday.<\/p>\n

U.S. stock futures, the S&P 500 e-minis, were down 0.6%.<\/p>\n

\u201cWe\u2019re looking at a market that is nervous, though hasn\u2019t seen sentiment turn outright bearish,\u201d said Kyle Rodda, an analyst at IG markets.<\/p>\n

\u201cIf you look for catalysts that could justify the next move to the upside in equities and risk assets, they are nowhere to be seen because global growth concerns are keeping investors on edge,\u201d he said.<\/p>\n

Chinese data earlier this week suggested growth in the world\u2019s second-largest economy will slow in the second half of this year, while economists polled by Reuters said they expected the U.S. economic rebound to have been dented in Q3, partly on the spread of the Delta coronavirus variant.<\/p>\n

While respondents pushed back expectations for the Federal Reserve to announce a tapering of asset purchases to November, a likely move this year provided little support for risk assets.<\/p>\n

This also meant that strong U.S. retail sales data overnight, a reprieve after a series of underperforming data reads, did little to boost U.S. equities. Any rise in sentiment was outweighed by gains in both U.S. yields and the dollar which pressured market-leading tech stocks and weighed on exporters.<\/p>\n

In Asia, the yield on benchmark 10-year Treasury notes was 1.3378% compared with its U.S. close of 1.331%, and the dollar gained 0.04% against a basket of other majors.<\/p>\n

The Dow Jones Industrial Average fell 0.18%, the S&P 500 lost 0.16%, but the Nasdaq Composite inched up or 0.13%, supported by Amazon.com Inc after the strong retail data read.<\/p>\n

Gold recovered marginally on Friday with the spot price trading at $1,755.03 per ounce, up 0.2% after reaching a one month low on Thursday as higher yields hurt the non-interest bearing metal.<\/p>\n

U.S. crude dipped 0.22% to $72.45 a barrel. Brent crude fell 0.26% to $75.53 per barrel, but both are still hovering just below their highest levels since early August.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

HONG KONG (Reuters) – Asian shares steadied<\/p>\n","protected":false},"author":3,"featured_media":139150,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23051],"tags":[],"yoast_head":"\nAsian shares stabilise but global growth fears nag - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/business\/asian-shares-stabilise-but-global-growth-fears-nag\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Asian shares stabilise but global growth fears nag - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"HONG KONG (Reuters) – Asian shares steadied\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/business\/asian-shares-stabilise-but-global-growth-fears-nag\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-09-19T13:08:38+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/09\/Asian-shares-stabilise-but-global-growth-fears-nag.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/business\/asian-shares-stabilise-but-global-growth-fears-nag\/\",\"url\":\"https:\/\/precoinnews.com\/business\/asian-shares-stabilise-but-global-growth-fears-nag\/\",\"name\":\"Asian shares stabilise but global growth fears nag - 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