AFP, Hong Kong :
Asian stock markets lost ground on Monday, with investors little moved by the G20’s commitment at the weekend to boost global growth by $2 trillion over five years.
After a weak lead from Wall Street Friday, markets were looking to a string of US data in the week ahead for clues about the health of the world’s largest economy, with figures due out on housing, consumer confidence and GDP growth.
In Tokyo the benchmark Nikkei-225 index fell 0.19 percent, or 27.99 points, to close at 14,837.68. Seoul lost 0.45 percent, or 8.78 points, to end at 1,949.05 and Sydney closed a marginal 0.03 percent, or 1.5 points, higher at 5,440.2.
Hong Kong shares were down 1.13 percent in afternoon trade, while on the Chinese mainland, shares extended losses in the afternoon on worries about a possible tightening of credit to the property sector.
Shanghai was down 1.76 percent while the Shenzhen Composite Index, which tracks stocks on China’s second exchange, fell 1.11 percent.
Domestic banks have recently tightened lending to the real estate sector, state media reported last week, though some lenders denied any such move.
“We’re mostly focused on news from local news media that big banks are stepping back on loans in the sector,” Shenyin Wanguo Securities analyst Qian Qimin told Dow Jones Newswires.
However, any impact from property loan curbs would likely be limited, Qian added.
The world’s biggest economies vowed Sunday to boost global growth by more than $2 trillion over five years, shifting their focus away from austerity as a fragile recovery takes hold.
The G20 members said they aim to lift their collective GDP by more than two percentage points over the next five years.
However, investors appeared to be focusing more on the forthcoming US figures, as analysts suggested the data may disappoint.
US February consumer confidence figures are due to be released on Tuesday, followed by data showing durable goods orders and initial jobless claims on Thursday. On Friday, the final estimate for fourth-quarter US gross domestic product is out.
“It is possible that data to be released this week could come out lower than expected. Caution is needed over continued worries about the possibility of a US slowdown,” Tsuyoshi Nomaguchi, a senior strategist at Daiwa Securities, said in a note to clients.
Nomaguchi said the US market could receive support from investors hopeful that weak data could encourage the US Federal Reserve to continue its zero interest rate policy.
