Asian share markets took a breather on Wednesday

Asian share markets took a breather on Wednesday as a resurgence of coronavirus cases challenged market confidence in a rapid economic recovery, even as the rebound in US retail sales in May broke all records.

Asian Share Markets

  • MSCI’s broadest index of Asia-Pacific shares outside Japan went flat, having climbed 2.8% the previous day, with most markets across the region little changed.
  • E-mini futures for the S&P 500 dipped 0.2% and Eurostoxx 50 futures eased 0.1%.
  • That followed a robust session on Wall Street overnight. The Dow ended Tuesday up 2.04%, while the S&P 500 gained 1.90% and the Nasdaq 1.75%.

Currency Markets

  • The euro eased back to $1.1266 from its recent top of $1.1422.
  • The dollar was sidelined on the Japanese yen at ¥107.25.

Commodities

  • In commodity markets, gold was stuck at $1,725 and well within the $1,670/$1,764 range of the past few weeks.
  • Brent crude futures slipped 59 cents to $40.37 a barre.
  • US crude lost 72c to $38.38.

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