Asian share markets turned mixed on Monday as Chinese retail sales missed expectations and Singapore moved to close schools to fight a coronavirus outbreak, while more evidence of global inflation pressures helped gold to a three-month peak.
Chinese retail sales rose 17.7% in April on a year ago, short of forecasts for a jump of 24.9%, while industrial output matched expectations with a rise of 9.8%.
MSCI’s broadest index of Asia-Pacific shares outside Japan dithered either side of flat, just above a four-month trough hit last week.
Chinese blue chips proved more resilient with a gain of 1.8%.
S&P 500 futures and Nasdaq futures both eased 0.1%, following Friday’s rally. EUROSTOXX 50 futures added 0.3% while FTSE futures were little changed.
The U.S. data calendar is light this week, putting the focus on minutes of the Federal Reserve’s last policy meeting for any clue when officials there might start to talk about tapering.
Walmart says fully vaccinated employees can go without masks starting Tuesday
· Japanese shares drop as coronavirus infections weigh on sentiment
Japanese shares reversed course to settle lower on Monday, as worries over the slow pace of the domestic vaccination drive overwhelmed a boost from solid gains in Wall Street shares.
The Nikkei share average fell 0.92% to close at 27,824.83, after rising 0.8% earlier in the session, while the broader Topix edged down 0.24% to 1,878.86.
· Taiwan’s Taiex drops nearly 3%; Asia-Pacific mixed as investors react to China economic data
Shares in Asia-Pacific were mixed on Monday trade as investors reacted to the release of Chinese economic data while also monitoring the Covid situation in places such as Taiwan, which has seen a recent spike in domestic infections.
The Taiex in Taiwan fell 2.99% to close at 15,353.89 on Monday, leading losses among the region’s major markets.
· European markets mixed to start the new trading week; inflation, Covid in focus
European stocks were choppy on Monday morning as global investors weighed concerns over a rise in inflation and an increase in coronavirus cases, largely attributed to the spread of a variant that emerged in India.
The pan-European Stoxx 600 hovered fractionally below the flatline in early trade, with autos adding 0.7% while travel and leisure stocks dropped 0.7%.
Reference: CNBC, Reuters
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