Asian stocks are under pressure on soft American data

Asian stocks are under pressure on soft American data

On Monday, Asian stocks sagged, while American bond yields tumbled to five-month minimums after soft American economic data affected investor sentiment already frayed by concerns over North Korea as well as coming French elections.

It dwarfed any relief for market participants after the American Treasury department didn’t label China as a currency manipulator, thus avoiding an all-out confrontation on currencies between the two largest economies in the world.

S&P 500 mini futures edged down 0.15%, hitting 2,324, edging close to a six-week minimum of 2,317.75 hit in late March, reacting to Trump's defeat on healthcare reform.

Outside Japan MSCI's broadest index of Asia-Pacific stocks dipped 0.1% in holiday-thinned trade. As for Japanese Nikkei, it sagged as much as 0.6%, hitting a five-month minimum before soaring 0.1%.

The vast majority of European share markets are going to be closed for Easter holidays.

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