Asian equity markets have fallen after official data revealed that Chinese retail sales grew at their weakest pace since 2003 raising fears that the world’s second-largest economy has been losing momentum. Year-on-year retail sales rose 8.1 per cent in November, below expectations for an 8.8 per cent rise and the slowest since May 2003. Markets were also spooked by disappointing industrial output data, which rose the smallest amount for nearly three years. The Nikkei closed down 2.02 per cent this morning at 21,374.83. The FTSE 100, which closed at 6,877.50, was forecast to open 65 points lower when trading began.

Source: The Times December 14, 2018 08:59 UTC