Asia shares brace for China data, euro pressure

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Asia shares brace for China data, euro pressure
Bank Of JapanJapanChina
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Asian share markets were mostly softer on Monday ahead of a slew of Chinese economic news, while political uncertainty in Europe soured risk appetites and...

SYDNEY - Asian share markets were mostly softer on Monday ahead of a slew of Chinese economic news, while political uncertainty in Europe soured risk appetites and kept the euro on the defensive.

"Our 2024 and 2025 earnings estimates remain unchanged but stellar earnings growth by five mega-cap tech stocks have offset the typical pattern of negative revisions to consensus EPS estimates," they wrote in a note. French markets endured a brutal sell-off last week ahead of a snap election that might give a majority to the far right, with risks to the country's fiscal position and the stability of the euro zone.

The dollar was a shade firmer on the yen at 157.54, after briefly spiking above 158.00 on Friday when the BOJ said it would start tapering bond buying a little later than many had wagered on.Oil prices eased a touch after rallying 4% last week amid hopes for stronger demand from the U.S. driving season.

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