IG market analyst Chris Weston said Australian and Asian markets took last Friday's strong US jobs report as a negative. Asian investors have started the new week by unwinding further carry positions with strong outflows of emerging markets, with China at the centre, Weston said. Slowing Chinese growth also concerned markets. Chinese growth is once again being called into question, and while next week's Q2 GDP is likely to show the pace of expansion falling to 7.5%, the market is thinking longer-term and how a reduction in credit growth north of $100 billion will impact the economy, Weston said.
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