Asian shares weaker as growth, virus worries temper tech boost

0
11


Asian shares turned lower in a choppy session on Friday as abysmal economic data from the United States and rising global COVID-19 cases darkened the mood, despite strong US tech earnings and manufacturing recoveries in China and Japan. European shares were expected to open broadly lower across the board, with Euro Stoxx 50 futures down 0.28%, German DAX futures 0.49% lower and FTSE futures off 0.08%. The US dollar was also set for its worst month in a decade amid expectations the Fed will maintain its ultra-loose monetary policy for years. US GDP collapsed 32.9% in the second quarter, the deepest decline on record, while jobless claims rose last week, adding to signs the momentum of economic recovery has slowed.