Leading indicators point towards slower growth

ASIA

Asian markets were divided during June.

Some turned in positive returns thanks to improving economic data, while others reacted to what is going on in the West. The best performers in local currency terms were Indonesia (3.4%) and India (1.3%) while the laggards were Australia (-5.0%) and Taiwan (-4.7%). In Japan a raft of disappointing economic data and an appreciating yen hurt investor sentiment and led to a 4.8% fall in the index. Economies appear to be at a crossroads with leading indicators pointing to slower growth. Even China, the world’s engine room, appears to have taken its foot off the accelerator. Clouding the o...