Asia shares inch higher ahead of China data

SYDNEY, Nov 15 (Reuters) – Asian shares edged cautiously higher on Monday as U.S. stock futures made early gains, though investors were wary of bearish surprises in a batch of Chinese economic data due out later.

Annual growth in retail sales, industrial output and urban investment are all expected to slow further in October partly due to pandemic restrictions and strains in the housing market.

Economists at CBA argued there was a chance the People’s Bank of China would cut bank reserve requirements (RRR) this week to support activity.

“We estimate a 50 basis point cut to the RRR can release CNY 1 billion of liquidity,” they said in a note “In our view, mild easing measures can help meet funding requirements for property developers and offset downside risks to the economy.”

Source: Reuters