By The Financial District
Asian Stocks Waver On China Deflation Fears, Mixed Japan Earnings
Asian shares traded cautiously on Thursday as investors fretted about growing deflationary pressures in China and a mixed bag of Japanese earnings, while a standoff over the US debt ceiling overshadowed a meeting of G7 finance leaders, Julie Zhu reported for Reuters.
Photo Insert: Zongguancun tech hub in China
The outlook for Europe looked somewhat more upbeat, however, with pan-region Euro Stoxx 50 futures rising 0.26%, German DAX futures up 0.2% and FTSE futures up 0.17%. US stock futures, the S&P 500 e-minis, were up 0.22%.
Australian shares were down 0.13%, while Japan's Nikkei stock index slid 0.1%, retreating for a second-straight session from a 16-month peak, with 154 companies losing ground versus 64 that advanced.
China's blue-chip CSI300 index edged down 0.08% in the afternoon session, while Hong Kong's Hang Seng index dropped 0.5%.
MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.1%, reversing gains in the morning session, as fresh worries about weak demand in China weighed on sentiment.
China's consumer prices rose at a slower pace and missed expectations in April, while factory gate deflation deepened, official data showed on Thursday, suggesting more stimulus may be needed to boost a patchy post-COVID economic recovery.
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