SYDNEY – Asian share markets turned mixed on Monday as data on Chinese retail sales missed expectations though industrial output stayed solid, while more evidence of global inflation pressures helped gold to a three-month peak.
Chinese retail sales rose 17.7 percent in April on a year ago, short of forecasts for a jump of 24.8 percent, while industrial output matched expectations with a rise of 9.8 percent.
The spread of the coronavirus was also a hindrance with Singapore to shut most schools from Wednesday after reporting the highest number of local infections in months.
Taiwan’s government on Monday had to reassure investors it would stabilize stock and foreign exchange markets if needed amid a spike in COVID-19 cases. Stocks there were still down 1.1 percent.
MSCI’s broadest index of Asia-Pacific shares outside Japan eked out a rise of 0.2 percent, nudging further away from a four-month trough hit last week.
Chinese blue chips proved resilient with a gain of 1.8 percent.
Japan’s Nikkei lost 0.7 percent, having also touched its lowest since early January last week. Data suggested inflation was a global phenomenon with Japan’s wholesale prices jumping 3.6 percent in April from a year earlier as rising energy and commodities costs ate into corporate margins.
S&P 500 futures and Nasdaq futures both eased 0.1 percent, following Friday’s rally.
