Sunday, July 25, 2021

Asian shares close with losses as investors show cautious approaches before US Federal Reserve meeting

Asian shares today closed with losses as investors showed cautious approaches before the US Federal Reserve meeting. Below expectation data of Chinese retail sales and industrial production added another reason of caution as the data indicated modest slowdown in annual growth of China.

China’s Shanghai Composite index and Singapore’s Straits Times, both plunged 1.1 per cent. Hong Kong’s Hang Seng declined 0.7 per cent and Japan’s Nikkei-225 ended half a per cent down. South Korea’s KOSPI managed to gain 0.6 per cent.

European shares were trading in a narrow range in intra day trade. France’s CAC was 0.1 per cent up while Germany’s DAX was 0.1 per cent down. London’s FTSC-100 was trading flat.

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