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Global Markets: Asian shares retreat as China targets slower growth

Updated : March 05, 2019 10:32 AM IST

MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.5 percent. Hong Kong's Hang Seng was down 0.6 percent and Japan's Nikkei lost 0.6 percent.
China cut its growth target for this year to 6.0 to 6.5 percent, in line with expectations, from around 6.5 percent last year.
A media report on Monday that US President Donald Trump and Chinese President Xi Jinping could reach a formal trade deal at a summit around March 27 prompted profit-taking rather than follow-through buying.
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