Asian shares were off to a tepid start on Thursday, weighed down by a murky economic outlook in China and expectations the global rate easing cycle may not come as early as some had initially thought. U.S. Treasury yields edged higher while the dollar hovered near a one-month peak as investors pared their bets on a rate cut by the Federal Reserve beginning as early as March. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.1%, though it was still languishing near Wednesday's two-month low of 490.45 points.
International Business News: China published youth unemployment data using a new method that showed an apparent improvement. The unemployment rate for people between 16 and 24 was announced as 14.9% in December.
The Australian dollar weakened against other major currencies in the Asian session on Wednesday amid risk aversion, as weak crude oil and bullion prices triggered some heavy selling at several counters in energy and materials sectors.
China published youth unemployment data Wednesday for the first time since the jobless rate hit a record high in June last year, using a new method that showed an apparent improvement. China announced a 14.9% jobless rate for people between 16 and 24 in December, using the new method, which excludes students. The statistics bureau stopped publishing the politically sensitive figure last year, after it reached 21.3% in June.