Asian shares were on edge on Monday morning ahead of the release of Chinese economic data for the third quarter, as investors fret about the health of the world's second-largest economy even as U.S companies report strong quarterly earnings.
finished last week in a bullish mood posting their best day in five months on Friday as strong U.S. corporate earnings reports fuelled optimism about the economy, although firm oil prices kept inflation risks alive and lifted government bond yields.
Investors also pointed to power shortages, supply bottlenecks and rising jitters over the property sector, as the saga over the fate of beleaguered property developer China Evergrande GroupYi Gang, the governor of China's central bank said on Sunday China's economy was "doing well", but faced challenges such as default risks for certain firms due to "mismanagement".Elsewhere, investors are continuing to position themselves for the U.S.
The pound could gain on the dollar this week as "UK economic and inflation dynamics support the upward shift to the UK interest rates", while the Chinese yuan traded off-shore could be hurt by Chinese GDP data, they added.
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