TOKYO, May 14 — — Tokyo’s Nikkei index was the biggest loser of Asia’s major markets today as the yen climbed against the dollar, while Wall Street provided a weak lead following more below-forecast US data.

The euro added to recent gains after data showing the eurozone economy picking up trumped worries about Greece’s ongoing debt reform talks.

Tokyo sank 0.98 per cent, or 194.48 points, to 19,570.24 while Sydney eased 0.33 per cent, or 18.6 points, to 5,696.5 and Seoul added 0.29 per cent, or 6.17 points, to 2,120.33.

Hong Kong climbed 0.14 per cent, or 37.27 points, to 27,286.55 and Shanghai was slightly higher, adding 2.55 points to 4,378.31

US traders were left disappointed yesterday after the Commerce Department said retail sales, a key part of consumer spending that drives most of the US economy, stagnated in April after rising 1.1 per cent in March.

The average consensus estimate had been for a 0.2 per cent increase.

Year-on-year, retail sales rose 0.9 per cent, the weakest growth since 2009.

The news adds to unease about the world’s biggest economy, which grew slower than expected in the first quarter, and makes a Federal Reserve interest rate rise unlikely in the early summer, reversing expectations from the start of the year.

“While US growth is rebounding, it may not rebound as far and as fast as many investors had expected,” Russ Koesterich, global chief investment strategist at New York-based BlackRock Inc, told Bloomberg TV.

The Dow edged down 0.04 per cent and the S&P 500 dipped 0.03 per cent but the Nasdaq added 0.11 per cent.

On currency markets, the dollar softened as the chances of a rate hike abated. In Japanese trade, it bought ¥119.10 against ¥119.16 in New York and was well down from 119.83 earlier yesterday in Asia.

Eurozone picks up

The euro pushed higher after official data showed the eurozone economy met expectations and grew 0.4 per cent quarter-on-quarter in January-March, up from 0.3 per cent in the previous three months.

The expansion came after getting some help from the European Central Bank’s massive bond-buying programme, launched in March to kick-start the single-currency bloc.

The single currency was at US$1.1389 and ¥135.74 against US$1.1354 and ¥135.29 in New York and also well up from the US$1.1246 and ¥34.80 in Tokyo earlier yesterday.

However, debt-saddled Greece confirmed that its economy had slipped back into recession, with no end in sight to tense bailout reform talks with its international creditors.

Traders were keeping a close watch on the discussions as they try to hammer out an overhaul of Greece’s bailout terms that will unlock billions of euros in much-needed cash to pay its bills.

There are fears that if Greece defaults on its debt repayments it could fall out of the eurozone, which would have painful knock-on effects globally.

Oil prices were lower. US benchmark West Texas Intermediate for June delivery fell 40 cents to US$60.10 while Brent crude for June eased 25 cents to US$66.56 (RM215.11) in afternoon trade.

Gold fetched US$1,214.45 from US$1,193.77 late yesterday.

In other markets:

– Taipei fell 1.16 per cent, or 113.28 points, to 9,610.83.

Smartphone maker HTC slipped 1.75 per cent to Tw$112.0 while Taiwan Semiconductor Manufacturing Co was 1.35 per cent lower at Tw$146.0.

– Wellington shed 0.23 per cent, or 13.46 per cent, to 5,738.40.

Contact Energy slipped 1.07 per cent to NZ$5.55 and Warehouse Group was down 1.08 per cent at NZ$2.76.

– Manila added 0.30 per cent, or 23.09 points, to 7,831.44.

– Jakarta was closed for a public holiday. — AFP