Market Sentiment Dampened by China Growth Concerns

Bullish market sentiment after the death of Osama bin Laden dissipated rapidly and the focus has been shifted to the growth outlook. Equities fell amid concerns that China will tighten next week. The worries were exacerbated by Credit Suisse's downgrades on China's growth outlook after disappointing April PMI. The investment bank revised down its GDP growth forecasts to +8.8% (from +9.1%) for 2011 and to +8.9% (from +9%) for 2012. In the commodity sector, oil prices weakened in European session on the demand outlook.

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Market Sentiment Dampened by China Growth Concerns