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Home / Business / Asian stocks retreat as China's growth slows more deeply By Reuters

Asian stocks retreat as China's growth slows more deeply By Reuters





By Stanley White and Tom Westbrook

TOKYO / SINGAPORE (Reuters) – Asian equities fell on Thursday after weak economic data in China and Japan showed that the Beijing-Washington trade war had increased in some of the world's largest economies ,

MSCI's broadest index for Asia-Pacific equities outside Japan fell 0.3%. The Japanese stock index continued to fall, falling 0.8%.

The Australian S & P / ASX200 ended earlier gains and rallied 0.5%, while the Shanghai blue chips, supported by expectations, would add incentive to the gloomy numbers.

European equity futures point to a flat open following recent gains. US futures fell 0.1

% after reaching a record high on the S & P 500 on Wednesday.

China's industrial output slowed sharply in October, down 4.7% on the previous year, well below its forecast of 5.4%. Investment growth reached a record low and retail sales failed to meet expectations.

"Weakness in investment and production suggests that confidence is waning," said Shane Oliver, chief economist at AMP Capital in Sydney. Pressure on the Chinese authorities to reach an agreement on trade with Donald Trump, as well as President Trump's desire to be re-elected puts pressure on him to reach an agreement.

Poor numbers also come in the form of market confidence in a solution A new Reuters poll shows that most economists do not expect Washington and Beijing to sign a permanent ceasefire next year.

In a keynote speech On Tuesday, Trump did not disclose the progress of the negotiations, the Wall Street Journal reported Wednesday that talks over farm purchases had failed.

In the meantime, the global impact of the dispute is on the rise.

, which will mature at 07:00 GMT, will show whether Germany has entered a technical recession as forecasted.

Japan's economic growth reached the slowest pace since the beginning of the year in the third quarter, when weak demand constrained exports. [19659002] "In the region, you had some near misses of the recession – Korea was one, Singapore was one and Hong Kong is currently in recession, "said Sean Darby, global equity strategist at Jefferies in Hong Kong.

"It's not great, it's not a cycle that leaves no scars," he said.

Concerns over violent clashes over increasing protests against the Hong Kong government have also undermined investor sentiment.

Protesters paralyzed parts of Hong Kong on Thursday for a fourth day, forced school closures and blocked highways and other transport links in a marked escalation of unrest in the financial center.

Hong Kong fell 0.8% to a new monthly low on Thursday.

In the currency markets, safe havens such as the Japanese yen and the Swiss franc held onto their profits.

The yen was quoted at $ 108.70 a dollar near a weekly high. The Swiss franc was trading at 0.9900 against the greenback, the highest level in more than a week.

The Australian dollar slipped to a monthly low on Thursday after a worryingly low employment value had fueled speculation over further interest rate reductions.

Futures rose 0.6% to $ 62.76 a barrel, while US West Texas Intermediate (WTI) crude gained 0.63% to $ 57.48 a barrel.

The benchmark yield rose to 1.8652% from the US close of 1.869% on Wednesday.

(GRAPHIC: Trade War Toll – https://fingfx.thomsonreuters.com/gfx/mkt/12/8644/8569/Pasted%20Image.jpg)[19659025[!function(f,b,e,v,n,t , s)
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