Asian shares down on China worries; eyes on US inflation

The dour mood in Asia is unlikely to continue with futures indicating that European stocks were set for a higher open. Eurostoxx 50 futures rose 0.69%, German DAX futures were up 0.70% and FTSE futures climbed 0.44%.

U.S. CPI is forecast to show headline inflation picking up slightly in July to an annual 3.3%, while the core rate, which excludes the volatile food and energy segments, is forecast to rise 0.2% in July, for an annual gain of 4.8%. "The good news is that this is mainly due to base effects...the bad news is that this indicates that the going will be a lot heavier for inflation from now on, without those nice helpful base effects that dominated the second quarter."

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Asian shares slip on China worries; U.S. inflation figures awaitedAsian stocks lost ground on Thursday, still hurting from China's slip into deflation, with investors particularly cautious ahead of a crucial U.S. inflation report that will likely influence the Federal Reserve's monetary policy path.
Source: ReutersAfrica - 🏆 31. / 53 Read more »