Asia stocks restrained as US futures retreat

SYDNEY : Asian shares got off to a sluggish start on Tuesday after a rally on Wall Street was soured by an early slide in U.S. stock futures, while the euro was near one-month highs as odds narrowed on a July rate rise by the ECB.

Markets have taken some comfort from U.S. President Joe Biden's comment that he was considering easing sanctions on China, and from Beijing's ongoing promises of stimulus. "Our 2Q global growth forecast stands at just 0.6 per cent annualised rate, easily the weakest quarter since the global financial crisis outside of 2020."

The hawkish message is likely to be driven home this week by a host of Fed speakers and minutes of the last policy meeting due on Wednesday.

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