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Let's see a few more months (of data)." In the currency markets, the yen rose 0.7% to 127.95 per dollar, unwinding some of its drop the previous day when, to the surprise of markets, the Bank of Japan (BOJ) stuck firmly to its approach of ultra-low interest rates.
MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.2pc
Norway's crown ticked higher as its central bank kept its interest rates at 2.75% as widely expected, but said they were likely to go up in March. On Wednesday, the S&P 500 had lost 1.6% after data showed U.S. manufacturing output had slumped last month and retail sales had fallen by the most in a year.
Asian stock markets struggled to make headway on Thursday, after weak U.S. consumer data stoked recession worries and nudged investors toward safe assets such as bonds, while Japan's yen rose as markets doubted the Bank of Japan's policy commitments. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.2% and benchmark 10-year U.S. Treasury yields, which fall when prices rise, hit their lowest since September at 3.326%.
Stocks and oil prices dipped on Thursday after weak US consumer data rekindled global recession worries, while Japan’s yen reared up again as traders took fresh punts that the Bank of Japan will soon be tightening policy.