Asian Stock Markets
Asian shares slipped on Tuesday amid escalating trade tensions and
concerns about tech firms, although regional index declines were modest
compared with those of their Wall Street counterparts as investors
focused on global growth prospects.
Spreadbetters expected European stocks to open lower, with Britain's FTSE .FTSE losing 0.5 percent, Germany's DAX .GDAXI falling 0.95 percent and France's CAC .FCHI dropping 1 percent.
MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS fell 0.35 percent on Tuesday, compared with losses of more than 2 percent on each of the three Wall Street indices overnight.
The U.S. dollar steadied against the safe haven yen after declining for three straight days and gold, which is often seen as a store of value during times of financial or political uncertainty, inched lower.
U.S. Treasuries saw a bit of selling too with yields on 10-year notes US10YT=TWEB off two-month lows.
Meanwhile, E-Mini futures for the S&P 500 ESc1 climbed 0.4 percent and Dow futures 1YMc1 rose 0.2 percent.
Asian shares were mostly in the red, albeit off early lows.
Japan's Nikkei .N225 was down 0.8 percent, having gone as deep as 1.6 percent earlier. China's Shanghai Composite index .SSEC eased 0.9 percent and the blue-chip CSI300 .CSI300 was off 0.7 percent.
Technology shares were hit hard on Monday after U.S. President Donald Trump attacked Amazon.com over the pricing of its deliveries through the United States Postal Service and promised unspecified changes.
The selling added to what has been a rough patch for technology shares this year. Facebook, Apple and some of their peers had a woeful last quarter as investors reassessed high U.S. stock valuations in light of a cocktail of negative factors.
So called FANG stocks - Facebook (FB.O), Amazon, Netflix (NFLX.O) and Google - have been largely responsible for a multi-year bull run in world shares, although the threat of government regulation has raised worries about their outlook.
Investors
were also on the backfoot as China imposed extra tariffs on 128 U.S.
products, deepening a dispute between the world’s two biggest economies
and stoking concerns about the impact on global growth.
China's tit-for-tat tariffs hurt the U.S. dollar, although it saw some buying during early Asian trading on Tuesday to last trade at 105.93 yen, from a three-week peak of 107.01. JPY=
The dollar index was still a shade softer against a basket of currencies .DXY.
Oil prices ticked higher after falling more than 3.7 percent on Monday although rising Russian output and the escalating U.S.-China trade dispute still weighed. [O/R]
Brent crude LCOc1 rose 16 cents to $67.80 a barrel. U.S. crude CLc1 gained 14 cents to $63.15.
Spot gold XAU= ticked down 0.2 percent to $1,338.08 an ounce.
Spreadbetters expected European stocks to open lower, with Britain's FTSE .FTSE losing 0.5 percent, Germany's DAX .GDAXI falling 0.95 percent and France's CAC .FCHI dropping 1 percent.
MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS fell 0.35 percent on Tuesday, compared with losses of more than 2 percent on each of the three Wall Street indices overnight.
The U.S. dollar steadied against the safe haven yen after declining for three straight days and gold, which is often seen as a store of value during times of financial or political uncertainty, inched lower.
U.S. Treasuries saw a bit of selling too with yields on 10-year notes US10YT=TWEB off two-month lows.
Meanwhile, E-Mini futures for the S&P 500 ESc1 climbed 0.4 percent and Dow futures 1YMc1 rose 0.2 percent.
Asian shares were mostly in the red, albeit off early lows.
Japan's Nikkei .N225 was down 0.8 percent, having gone as deep as 1.6 percent earlier. China's Shanghai Composite index .SSEC eased 0.9 percent and the blue-chip CSI300 .CSI300 was off 0.7 percent.
Technology shares were hit hard on Monday after U.S. President Donald Trump attacked Amazon.com over the pricing of its deliveries through the United States Postal Service and promised unspecified changes.
The selling added to what has been a rough patch for technology shares this year. Facebook, Apple and some of their peers had a woeful last quarter as investors reassessed high U.S. stock valuations in light of a cocktail of negative factors.
So called FANG stocks - Facebook (FB.O), Amazon, Netflix (NFLX.O) and Google - have been largely responsible for a multi-year bull run in world shares, although the threat of government regulation has raised worries about their outlook.
China's tit-for-tat tariffs hurt the U.S. dollar, although it saw some buying during early Asian trading on Tuesday to last trade at 105.93 yen, from a three-week peak of 107.01. JPY=
The dollar index was still a shade softer against a basket of currencies .DXY.
Oil prices ticked higher after falling more than 3.7 percent on Monday although rising Russian output and the escalating U.S.-China trade dispute still weighed. [O/R]
Brent crude LCOc1 rose 16 cents to $67.80 a barrel. U.S. crude CLc1 gained 14 cents to $63.15.
Spot gold XAU= ticked down 0.2 percent to $1,338.08 an ounce.
No comments:
Post a Comment