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Asia circles the wagons ahead of Fed, oil eyes 2019 high

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Reuters

By Wayne Cole SYDNEY (Reuters) – Asian shares retreated slightly on Wednesday with investors wary of any hint of hawkishness from the U.S. Federal Reserve given lofty asset valuations rely so heavily on an endless supply of super-cheap money. A looming data dump on Chinese retail sales and industrial production offered another reason for caution, with some modest slowdown in annual growth expected. Moves were mostly modest, apart from the oil market where Brent hit the highest since April 2019 on a potent mix of post-pandemic demand and restricted production. MSCI’s broadest index of Asia-Paci…

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