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Tokyo is main driving force of Asia – Pacific retail market

According to a recent report of CBRE, Asia – Pacific retail market in Q2-2015 barely saw movements, except for Tokyo which has the highest growth rate. Tokyo's growth increased the overall growth of the whole regional market in Q2 by 0.6pct quarter-on-quarter. Excluding Tokyo out of the list will make the market growth dropped by 0.5pct. According to Henry Chin, Head of Research at CBRE Asia – Pacific, aside from fast-growing markets of Japan and Australia, other retail markets in the region were in a slump in Q2-2015 due to a decline in consumption demand of Greater China (China, Taiwan and Hong Kong) customer group. Additionally, MERS-CoV outbreak in South Korea made outbound tourists to the country reduced steeply, affecting negatively on its retail market. Meanwhile, Japan tourism market enjoyed a sharp increase in Chinese tourists.