Disappointing Chinese Data Weighed on Asian Shares

On Thursday, Asian stocks were partly lower from its 10-year highs as Chinese data showed softer than the expected figures of the markets. On one side, the dollar remained unchanged prior the release of its inflation data later this day.

Fixed-asset investment in China, along with the retail sales and factory output came in lower, underlining some reports that the world’s biggest economy is slowly losing its strength due to rising borrowing costs.

The Aussie dollar is known to a liquid proxy for China-related tradings, but its gains also reduced, reaching 0.3 percent at $0.8006 followed by the robust data on employment.

The shares of MSCI’s broadest index of Asia-Pacific, excluding Japan, fell by 0.1 percent on the back of reaching its highest in 2007. After the sluggish data, Chinese stocks are currently in an unprofitable financial condition and gave up its earlier gains.

While Nikkei Japan slid by 0.2 percent and the broader TOPIX wiped off its two-year peak along with the weakening of the Japanese yen.

Additionally, KOSPI index of South Korea was up by 0.1 percent while the Australian shares had a 0.2 percent dipped.