Asian shares fall on recent US and China Data

Asian stock markets today followed Wall Street's downtrend after US inflation was slower-than-expected, and the release of disappointing economic data by the National Bureau of Statistics of China. Shanghai 50, Hong Kong Stock Market Index, Nikkei 225 and the Australia's S&P/ASX 50 index all fell on the latest economic developments.

China’s retail sales grew a disappointing 2.5% in August from a year ago as Beijing, under the "zero tolerance" policy, forced travel restrictions and local lockdowns within the country during a major part of summer. Economists were expecting an optimistic 7% growth in consumer spending. Similarly, Chinese industrial data came out 0.5 percentage point below consensus (5.3% Actual vs. 5.8% Consensus).

Lyxor MSCI China UCITS ETF (LCCN), which invests in large and mid-cap Chinese equities is down 1.57% on the London Exchange (12:19 pm, GMT +1). The Nomura Nikkei 225 ETF (NTETF), which tracks the Nikkei 225 Total Return Index – JPY fell by 0.79% at Tokyo market close. iShares MSCI AC Far East ex-Japan UCITS (IFFF) which provides 60% exposure to Australia and 27% Hong Kong Shares continues to trend lower since European markets opening session.

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