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Shares in Asia mixed as Sydney down despite retail sales boost
Published Oct 04, 2016 11:46PM ET
© Reuters. Asian shares mixed
Investing.com - Asian shares were narrowly mixed on Wednesday with Sydney down despite solid retail sales data in overall think markets with a week-long holiday in China curbing activity.
The S&P/ASX 200 fell 0.49%, while the Nikkei 225 rose 0.48%.
Retail sales data for August in Australia showed a 0.4% gain, well above the 0.2% increase seen month-on-month.
The Reserve Bank of Australia may note the retail sales data after recent months showed a slowing in household consumption, though the outlook for household consumption remains uncertain as indicated by AI Group's performance of services index that saw the retail subsector fall into contraction in September for the first time since March.
Earlier in Australia, the AIG services index came in at 48.9 in September from 45.0 level previously. "Stronger business confidence and activity levels will require more active leadership from government - including meaningful improvements to business taxation rates and the regulatory burden," AI Group Chief Executive Innes Willox said.
As well in New Zealand, comments from Chicago Fed President Charles Evans were noted for agreeing with rate hike projections by the FOMC.
U.S. stocks were lower after the close on Tuesday, as losses in the Utilities, Basic Materials and Telecoms sectors led shares lower.
At the close in NYSE, the Dow Jones Industrial Average lost 0.47%, while the S&P 500 index declined 0.50%, and the NASDAQ Composite index lost 0.21%.
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