Asian shares slipped on Thursday dragged down by Chinese stocks as recent upbeat economic data raised fears of monetary policy tightening, while the dollar index struggled near onemonth lows.
Futures for Eurostoxx 50 and Germanys DAX started in negative territory while those for Londons FTSE were a tad higher. EMini futures for the SP 500 were up 0.2.
The mood was less positive in Asia where most major indexes were in the red.
MSCIs broadest index of AsiaPacific shares outside Japan was down 0.1 after two straight days of gains. It was last at 690.12, a long way from a record high of 745.89 touched in February.
Japans Nikkei pared early gains to finish 0.07 higher while New Zealands benchmark index fell 0.9.
Chinese shares stumbled with the bluechip CSI300 index down 0.9 and Hong Kongs Hang Seng index dropping 0.8.
JPMorgan Asset Management said in a note it was trimming its overall Emerging Markets EM exposure mostly driven by a less sanguine outlook on EM Asia.
China has now recovered enough that policymakers can afford to be more conservative and worry more about containing debt and property market risks, its global multiasset strategist Patrik Schowitz wrote in a note.
That will be a headwind to China equities, despite the solid economy.
Global shares have surged in recent weeks led by successful rollouts of COVID19 vaccines around the world, U.S. stimulus packages and higher U.S. inflation expectations.
However, a recent, sharp pickup in U.S. Treasury…