Market Nervousness: Asian Shares Await China Data and Fed Speakers

Asian stocks started the week cautiously as investors awaited China's industrial and retail data and a host of US Federal Reserve officials to speak to vindicate market pricing of rate cuts this year. The Turkish lira sank to a two-month low after weekend elections looked headed for a runoff, while the Thai baht rallied almost 1% after Thailand's opposition routed military-allied parties also in weekend polls. The US dollar was hovering around a five-week high against major peers on Monday, extending its best weekly rise since September from the week before. Investors are also concerned about lifting the US debt ceiling and the return of bank worries.