China's stimulus efforts fall short, impacting Asia shares
Originally Published 2 years ago — by Reuters
Asian shares slipped as Chinese economic data showed mixed results, with GDP growth beating expectations but retail sales missing forecasts. The lack of major fiscal stimulus from Beijing has increased market impatience. Chinese blue chips were down 1.0%, while the yuan was slightly lower. Asian-Pacific shares outside Japan fell 0.3%. Tesla and several banks are among the companies reporting earnings this week. US retail sales data is expected to show a rise of 0.3% ex-autos. Markets still imply a high chance of a Fed rate hike this month, but have priced in aggressive policy easing for next year. The dollar was softer against the yen and euro, while gold and oil prices were supported.