GLOBAL MARKETS-Shares ease as investors await data, fret on China

Mon Mar 5, 2012 6:03am GMT

* MSCI Asia ex-Japan falls 1.1 pct, Nikkei drops despite weaker yen

* Euro steadies as dollar index comes off two-week highs

* Oil recovers, gold marks time

* European shares likely fall

* Euro zone services PMI due later on Monday

By Chikako Mogi

TOKYO, March 5 (Reuters) - Asian shares fell on Monday, as investors turned cautious about riding further on liquidity-driven optimism without seeing more evidence of firmer global growth and on concerns about the impact of a slowing Chinese economy.

Market sentiment has been improving since late last year as major central banks around the world flooded the financial system with ample funds to stave off fears of a credit crunch, allowing money to flow into a broad range of assets.

But while recent U.S. data suggesting a recovery has prompted investors to shift their focus towards economic fundamentals and away from long-running troubles in the euro zone, they remain watchful of developments in the debt crisis and also rising oil prices.   Continued...

Powered by Reuters AlertNet. AlertNet provides news, images and insight from the world's disasters and conflicts and is brought to you by Reuters Foundation.