Asian shares decline on weak Chinese data

Asian shares were seen struggling on Friday. This followed after weak Chinese economic data and worries about a delay in U.S. fiscal stimulus dampened investors’ risk appetite.

MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.24% decline. Japan’s benchmark index Nikkei advanced 0.07%. Meanwhile, South Korean stocks dropped as new coronavirus infections in the country hit the sharpest record since March.

Chinese shares fell 0.1%, erasing initial earnings as the country’s industrial activity placed below expectations. More so, an unexpected drop in retail sales heavily contributed to investors’ subdued sentiment.

E-mini futures for the S&P 500 tallied a 0.23% gain. After trading above its record peak, the S&P 500 was seen lower on Thursday as stimulus-related concerns capped its performance.