Asia shares on guard for US, China inflation risk

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Asian share markets were in a cautious mood on Monday after a mixed U.S. jobs report sparked a rally in beaten-down bonds.

Article originally published by Reuters. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

Published by

07 Aug 2023

Asian share markets were in a cautious mood on Monday after a mixed U.S. jobs report sparked a rally in beaten-down bonds, but new hurdles lay ahead in the shape of U.S. and Chinese inflation figures due later this week.

MSCI's broadest index of Asia-Pacific shares outside Japan was a fraction lower in thin trade, after losing 2.3% last week.

Japan's Nikkei turned flat, having found support at its July low. A summary of the last Bank of Japan meeting showed members felt making yield policy more flexible would help extend the life of its super-easy stimulus.

Chinese blue chips eased 0.9% with investors still disappointed at the lack of major and concrete stimulus steps from Beijing.

EUROSTOXX 50 futures dipped 0.3% and FTSE futures 0.5%. Going the other way, S&P 500 futures added 0.3% and Nasdaq futures 0.5%.

With roughly 90% of S&P 500 earnings reported, results are 4% better than consensus estimates with more than 79% of