TOKYO: Asian shares stepped back on Tuesday after China cut its economic growth target and pledged measures to support the economy amid growing challenges from rising debt and a dispute over trade and technology with the United States.
Australian shares dropped 0.6 per cent while South Korea's Kospi lost 0.5 per cent. MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.2 per cent and Japan's Nikkei dropped 0.3 per cent.
China cut its growth target for this yea ..
Premier Li Keqiang also said the country sees budget deficit of 2.8 per cent of GDP and the Finance Ministry set quota for local government's special bond issues at 2.15 trillion yen, 0.8 trillion yen above last year.
"The increase in local governments' special bond is fairly large," said Naoto Saito, chief researcher at Daiwa Institute of Research.
"Since those funds will be solely used for infrastructure investments, you cannot avoid the impression that the government is re ..
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Australian shares dropped 0.6 per cent while South Korea's Kospi lost 0.5 per cent. MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.2 per cent and Japan's Nikkei dropped 0.3 per cent.
China cut its growth target for this yea ..
Premier Li Keqiang also said the country sees budget deficit of 2.8 per cent of GDP and the Finance Ministry set quota for local government's special bond issues at 2.15 trillion yen, 0.8 trillion yen above last year.
"The increase in local governments' special bond is fairly large," said Naoto Saito, chief researcher at Daiwa Institute of Research.
"Since those funds will be solely used for infrastructure investments, you cannot avoid the impression that the government is re ..
For more information Top 10 advisory company in Indore
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