Asia off to slow start ahead of U.S. data deluge – Reuters

SourceReuters
SectorEconomy
CountryMiddle east

Asian share markets got off to a slow start on Monday as holidays in China and Japan crimped volumes and investors awaited a raft of data this week which should show the U.S. leading a global economic recovery.

MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was all but flat after taking a bit of a spill on Friday. Japan’s Nikkei (.N225) was shut for a holiday, but Nikkei futures edged up 0.2%.

Wall Street extended its bull run with Nasdaq futures and S&P 500 futures both up 0.3%.

A busy week for U.S.

economic data is expected to show resounding strength, particularly for the ISM manufacturing survey and April payrolls. Forecasts are that 978,000 jobs were created in the month as consumers spent their stimulus money and the economy opened up more.

Such gains could stir speculation of a tapering in asset purchases by the Federal Reserve, though Chair Jerome Powell has shown every sign of staying patient on...read more...