MSCI's broadest index of Asia-Pacific shares outside Japan fell 2% in early Asian trading hours, the first daily decline in a week.MSCI's broadest index of Asia-Pacific shares outside Japan fell 2% in early Asian trading hours, the first daily decline in a week.
Overnight on Wall Street, earnings reports from retail giants soured sentiment, with Target Corp warning of a bigger margin hit due to rising fuel and freight costs as it reported its quarterly profit had halved.Target’s shares plunged 24.88%, the biggest one-day percentage drop since the “Black Monday” stock market crash on October 19, 1987.
The US dollar, which had rallied on falling risk appetite, paused its gains on Thursday, with the greenback easing 0.05% against a basket of major currencies.British inflation surged to its highest annual rate since 1982 as energy bills soared, while Canadian inflation rose to 6.8% last month, largely driven by rising food and shelter prices.
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