Asian shares stepped back on Tuesday, weighed by U.S. economic concerns and as C...
TOKYO - Asian shares stepped back on Tuesday, weighed by U.S. economic concerns and as China cut its growth target in the face of intensifying challenges from rising debt and a dispute over trade and technology with the United States.
MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.15 percent and Japan’s Nikkei lost 0.4 percent. The Finance Ministry set the quota for local government’s special bond issues at 2.15 trillion yuan , 0.8 trillion yuan above last year’s quota. The index is now trading at 14.6 times expected earnings, on par with levels last seen in early October, when a bear market began globally.
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