SINGAPORE : Asian shares nudged lower on Friday, weighed down by China and Hong Kong stocks due to concerns over the stuttering recovery in the world's second-biggest economy, although Japan's Nikkei clocked a near 33-year peak.MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.20 per cent
SINGAPORE : Asian shares nudged lower on Friday, weighed down by China and Hong Kong stocks due to concerns over the stuttering recovery in the world's second-biggest economy, although Japan's Nikkei clocked a near 33-year peak.
Data in the week underscored that China's economy lost momentum at the beginning of the second quarter, stoking worries over the wobbly post-COVID-19 recovery. U.S. President Joe Biden and House of Representatives Speaker Kevin McCarthy, the top Republican in Washington, hope to finalise a deal on the debt ceiling after Biden returns from the Group of Seven meeting in Japan on Sunday.
Hawkish rhetoric from Fed speakers continued with Dallas Fed President Lorie Logan and St. Louis Fed President James Bullard saying inflation was not cooling fast enough to allow the Fed to pause its interest-rate hike campaign.
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