General Market News – European Session
Investors were stimulated to minimize their exposure to riskier assets due to slower economic growth and the specter of higher borrowing costs in the United States, forcing Asian shares to dive to one month lows. China’s consumer inflation moderated last month and factory gate deflation extended a record stretch to 44 months of negative readings indicating that policy makers might need to proceed in further monetary and fiscal easing. Meanwhile, due to the aforementioned poor inflation data, Chinese stocks in Hong Kong fell the most in a week as Chinese government is struggling to keep economic growth on track even after cutting the main interest rate six times in the last year. Japanese Prime Minister Shinzo Abe stated once more that plans are made to forward Japan’s corporate tax rate reduction indicating that he will seek a larger cut for the fiscal year starting in April than originally envisioned in order for the country’s tax rate to compare favorably with other nations..... contact
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