SINGAPORE — Shares in Asia-Pacific were lower in Wednesday morning trade following losses overnight on Wall Street, with investors reacted to the release of Chinese economic data.
Data released Wednesday showed China’s retail sales growing at a much lower pace than expected in August. The retail sales print for the month grew 2.5%, against a 7% growth forecast by analysts polled by Reuters.
In Australia, the S&P/ASX 200 fell 0.51%.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.85% lower.
Overnight on Wall Street, the Dow Jones Industrial Average dropped 292.06 points to 34,577.57 while the S&P 500 declined 0.57% to 4,443.05. The Nasdaq Composite shed 0.45% to 15,037.76. The losses stateside came despite an inflation reading for August that was weaker than expected.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 92.631 following its recent decline from levels above 92.7.
The Japanese yen traded at 109.56 per dollar, having strengthened yesterday from around 110.1 against the greenback. The Australian dollar changed hands at $0.7304, still struggling to recover after last week’s decline from above $0.74.