Asian Market Update : Epic Research Malaysia

Asian stocks were cautiously up on Wednesday as benign inflation data in China and more gloom in the euro zone economy lent credence to fears of a faltering global economic recovery.

The dollar steadied after disappointing data out of Germany and Britain checked the euro's recent bounce. "News of a very large drop in German business confidence reinforces concerns about the European economy," Ric Spooner, chief market analysts at CMC Markets in Sydney, said in a note to clients. "Problems in Europe are an ongoing headwind for other major economies including the US, and China is a negative for world growth." Data showing China's consumer inflation slowing to a level not seen since 2010 did little to improve the mood, with MSCI's broadest index of Asia-Pacific shares outside Japan gaining a modest 0.1 per cent - still within reach of seven-month lows hit at the start of the week.

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