Asia markets gain despite global growth worries

Asia markets gain despite global growth worries

MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.84% on Tuesday, but is still down the index is down 6.7% so far this month. U.S. stocks ended the previous session with mild losses.







Reuters









May 17, 2022 / 09:56 AM IST





Asian shares edged higher on Tuesday despite data reinforcing investor fears the global economic recovery may be more fragile than expected, even as inflationary pressures remain high.

MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.84% on Tuesday, but is still down the index is down 6.7% so far this month. U.S. stocks ended the previous session with mild losses.

In Tokyo, the Nikkei was flat in early trade, while in Australia the S&P/ASX200 index gained 0.34%.

Hong Kong's Hang Seng Index was 1.2% higher and mainland China's CSI300 Index gained 0.07%.

The U.S. dollar index, which tracks the greenback against a basket of currencies of other major trading partners, was flat in Asian trade to be at 104.1.

Economic growth fears in the world's two largest economies have re-emerged following weak retail sales and factory production figures in China and disappointing U.S. manufacturing data.

Investors are also weighing the global inflationary impact