Home Markets Asia shares turn cautious ahead of U.S. inflation

Asia shares turn cautious ahead of U.S. inflation

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SYDNEY (Reuters) – Asian shares turned lower on Monday as relief over the benign U.S. jobs report was chilled by caution ahead of key inflation data later this week, while a coronavirus outbreak in Taiwan took a toll on chip manufacturers.

FILE PHOTO: A man wearing a protective face mask, following an outbreak of the coronavirus, talks on his mobile phone in front of a screen showing the Nikkei index outside a brokerage in Tokyo, Japan, February 26, 2020. REUTERS/Athit Perawongmetha/File Photo

Investors were wary on how shares of major tech firms would react to the G7’s agreement on a minimum global corporate tax rate of at least 15%, though getting the approval of the whole G20 could be a tall order.

So far, the reaction was muted with both Nasdaq and S&P 500 futures down 0.2%. EUROSTOXX 50 futures and FTSE futures eased 0.1%.

Also of interest will be the tussle over U.S. President Joe Biden’s proposed $1.7 trillion infrastructure plan with the White…

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