Amwal Al Ghad English - 2014-10-15 08:05:32
Asian stocks regained a semblance of stability on Wednesday following days of steep losses, but sentiment remained fragile as benign Chinese inflation data and gloom in the euro zone economy added to signs of a faltering global economic recovery.
In a reflection of the cautious mood, spreadbetters saw a lower open for Europe, forecasting Britain's FTSE .FTSE to start as much as 0.2 percent lower, Germany's DAX .GDAXI down 0.17 percent and France's CAX .FCHI 0.4 percent lower.
"Against a backdrop of deteriorating economic data it will remain difficult for stocks to rally meaningfully, unless earnings and guidance expectations come in above consensus, not only in the U.S., but also in Europe as well," Michael Hewson, chief market analyst at CMC Markets, wrote in a note to clients.
The dollar steadied after disappointing data out of Germany and Britain checked the euro's recent bounce.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS managed to put on 0.27 percent, pulling away from seven-month lows hit at the start of the week.
Tokyo's Nikkei .N225 climbed 0.6 percent, poised to end a five-day losing streak that drove it to a two-month trough on Tuesday.
"For now the market has calmed and there's some short relief. It's a natural rebound," said Takashi Hiroki, chief strategist at Monex in Tokyo. More»