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Asian stocks barely budged Thursday as weak U.S. retail sales data raised concerns about the country's economic conditions, leading to a five-day rally in Asian stocks fading. The dynamics of the brexit negotiations have driven the pound up and down.
South Korea, Australia and New Zealand all fell. China's stock market was roughly flat, Japan's Nikkei index. N225 was higher, and U.S. stock index futures were little changed.
The MSCI Mingsheng Asia Pacific Index (excluding Japan) rose slightly, largely led by Hong Kong's Hang Seng Index. HSI.
The S & P 500. SPX fell 0.3 percent on Wednesday after data showed U.S. retail sales fell for the first time in seven months in September, a potential sign that manufacturing LED weakness may have spread to the economy as a whole.
"It looks like a trade war, in addition to reducing business confidence and investment spending, has another victim as consumers start to shrink," said Chris rupkey, chief financial analyst at MUFG union bank.
As US consumption is one of the few bright spots left in the global economy, the data raised concerns that the Sino US trade war would plunge the world into recession.
US Treasury Secretary Trump said on Wednesday that before the signing of U.S. President Xi Jinping and Chinese President Xi Jinping next month, the US China trade negotiators still have work to do in the first stage trade agreement.
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