Major Asian shares markets closed lower
Major Asian shares fell on Friday, retreating from four-month highs after data out of China raised concerns over deflationary pressures building in the world’s second biggest economy.
The broader equity markets had already been under pressure after Thursday’s weak U.S. retail sales figures triggered fresh doubts about the strength of the world’s largest economy.
Asian Shares Markets
- MMSCI’s broadest index of Asia-Pacific shares outside Japan was down 1 percent.
- The Shanghai Composite Index lost 0.8 percent following Friday’s discouraging data.
- Japan’s Nikkei dropped more than 1 percent.
- South Korea’s KOSPI shed 1.45 percent.
- The S&P 500 lost about 0.3 percent on Thursday.
- The U.S. currency fetched 110.34 yen, stepping back from Thursday’s seven-week peak of 111.13.
- The dollar’s weakness saved the euro from testing its 2018 low of $1.1216.
- The British pound traded a shade lower at $1.2797.
- Brent crude futures stretched an overnight rally rose to as high as $65.10 per barrel.
- U.S. crude futures rose 0.35 percent to $54.60 per barrel and were headed for a weekly gain of roughly 4 percent.
- The 10-year U.S. Treasuries yield fell to 2.655 percent, wiping out most of their rise this week.