Asia shares pare losses as China inflation in line
Published on May 9, 2014 11:12 AM
TOKYO (Reuters) - Asian shares mostly slumped on Friday as a tense situation in Ukraine made investors cautious, though a tame inflation report from China calmed some nerves.
The euro remained on a shaky footing after tumbling overnight when European Central Bank President Mario Draghi said the central bank might act to stem slowing inflation and boost the euro zone economy.
MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.1 per cent, on track for a slight weekly loss, but off session lows after data showed China's inflation in April was broadly in line with expectations.
Chinese consumer prices rose 1.8 per cent in April from a year earlier while producer prices fell 2.0 per cent.
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!