Corporate earnings, U.S. figures weigh on Asian shares
Asian share markets were seen downbeat on Monday as investors waited if corporate earnings in the United States would come parallel with sky-high valuations. Meanwhile, strong U.S. inflation and retail sales might affect bonds’ performance this week.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.6% lower. Japan’s benchmark index Nikkei plunged 0.5%, while South Korean shares made minimal movements. Chinese shares, on the other hand, retreated 0.9% ahead of the country’s economic readings.
China’s weak performance dragged Wall Street, while an increase in growth and tech-related stocks heavily weighed on U.S. 10-year Treasury yields. Bonds are expected to perform turbulently this week brought about by strong retail price and inflation figures.