On Tuesday, Asian shares hiked up as traders await US retail sales data additionally, more corporate earnings to determine the health of the world’s biggest economy. It helped the market remained focused on a likely US rate cut by the end of the month.
However, the investors were relived on the previous day by encouraging Chinese economic data. Despite broad pressure of business across the globe and investment from Sino-US trade frictions and moving slow growth reinforced expectations by major central banks of policy easing.
According to the median estimate of economists, the US data is expected to show that retail sales gained 0.1% in June on Tuesday.
But a decline in net interest margin reported by Citigroup in its mixed quarterly report highlighted risks for financial firms in a lower interest rate era.