Asia Stocks Fail To Follow Nikkei's Rise

Asian shares got off to a stumbling start on Monday as China's central bank wrong-footed markets by skipping a rate cut, even as data due this week is expected to show the economic recovery there remains fragile, Wayne Cole reported for Reuters.

China just reported economic growth data for the fourth quarter and a slew of monthly figures.

China just reported economic growth data for the fourth quarter and a slew of monthly figures, and investors have become used to being underwhelmed by activity as Beijing drip-feeds its stimulus.

Chinese blue chips were little changed in response, having earlier reached their lowest since early 2019.

Japan's Nikkei bucked the chary mood and climbed to a fresh 34-year peak, having already enjoyed stellar gains of 6.6% last week.

They closed up 0.91%. MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.21%, after losing 0.8% last week. S&P 500 futures and Nasdaq futures were both flat. EUROSTOXX 50 futures added 0.4%, and FTSE futures 0.2%.

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