Economic news

Asian stocks fluctuate on fears of global economy slowdown

Asian stocks were mixed as investors expected further development of trade negotiations between the U.S. and China amid weak U.S. employment data, which caused some concerns over the global economy, namely its limited growth.

asian stocks mixed 1103

The weaker than one expected data on loans and money supply in China have raised expectations for further economy stimulation measures, facing the slowing of growth. The volume of new loans in February amounted to 885.8 billion yuan ($132 billion), which turned out to be lower than expected and much lower than the volume of new loans in January, amounting to 3.23 trillion yuan.

The MSCI index for stocks in the Asia-Pacific region outside Japan rose by 1.48 percent to 156.10 at 7.48 GMT.

The Japanese Nikkei lost 1.54 percent to 21.125.09. The Australian S&P ASX 200 recovered slightly by 0.03 percent to 2.138.10 at 8.05 GMT, while the South Korea’s Kospi fell by 1.28 percent to 6.180.2. Shares were lower in Singapore and Jakarta, but increased in Thailand and Taipei.

It was a steady start of the week after a Friday’s wave of sales on Wall Street lowered the S & P 500 index to its worst weekly result since January.

The selloff followed after an unexpectedly weak employment report and new signs that the global economy is slowing down. One more report on Friday showed that Chinese exports fell by 20 percent last month, much more than economists had expected. The The European Central Bank (ECB) announced on Thursday that it would leave rates unchanged and is ready for measures to strengthen the region’s economy.


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