Asian Market Update : Epic Research Malaysia

Asian stocks opened on a cautious note as China revised down its 2014 growth figure and prepared to release more data that will give clues on the slowing economy, a prospect that has global investors on edge.

However, a weaker than expected US jobs report reduced the chances of an interest rate hike later this month, analysts said, providing some much-needed support to the Australian dollar which is sitting at six-year lows against the greenback.

In the face of the latest bout of volatility, G20 finance ministers and central bank heads pledged at the weekend to shore up economic growth and avoid a currency war following China's yuan devaluation last month that convulsed markets.

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