Shares in Asia down as Japan GDP, China growth and Fed views weigh

Asian shares fell on Monday as investors increasingly think the Federal Reserve will hike rates in December and domestic conditions in China and Japan remain patchy and on concern of new strikes to follow the deadly weekend attacks in Paris. The Nikkei 225 fell 0.97%, while the S&P/ASX 200 dropped 0.81% and the Shanghai Composite declined 0.46%. In Japan, quarter-on-quarter third quarter GDP fell 0.2%, compared to an expected 0.1% drop, while the year-on-year pace slumped 0.8%, compared to a 0.2% drop seen. Earlier in New Zealand, retail sales quarter-on-quarter in the third quarter rose 1.6%, beating an expected 1.3% gain. In the week ahead, investors will be turning their attention to Wednesday’s minutes of the Fed’s latest policy meeting for fresh indications on the prospects of a December rate hike. Market players will also be looking ahead to U.S. data on inflation, building permits and manufacturing activity for further clues on the strength of the economy. On Monday, the European Central Bank President Mario Draghi is to speak at an event in Madrid. The U.S. is to release data on manufacturing activity in the New York region. Last week, U.S. stocks were lower after the close on Friday, as losses in the Consumer Services, Technology and Consumer Goods sectors led shares lower. At the close in NYSE, the Dow Jones Industrial Average lost 1.16%, while the S&P 500 index declined 1.12%, and the NASDAQ Composite index declined 1.54%. Soft Chinese data on trade activity, inflation and industrial production last week reinforced the view that the economy remains in the midst of a gradual slowdown which will require policymakers in Beijing to roll out more measures to boost growth in coming months.