Asian shares fall after US stumble
Global bond yields continued to spiral lower in Asia on Thursday as recession fears fed expectations of more policy easing by major central banks, though some share markets in the region did manage to steady after an early sell off.
- MSCI’s broadest index of Asia-Pacific shares outside Japan almost flat.
- Japan’s Nikkei still fell 1.4 percent.
- E-Mini futures for the S&P 500 were off 0.2 percent.
- Hong Kong’s Hang Seng advancing 0.5 percent.
- The S&P 500 gained 0.72 percent.
- The Nasdaq Composite added 0.71 percent.
- The Aussie was on the defensive at $0.7090.
- U.S. dollar against a basket of its competitors traded at 96.874.
Sterling had its own troubles as an offer by British Prime Minister Theresa May to quit to get her European Union deal through parliament failed, leaving uncertainty hanging over the Brexit process.
Oil prices hovered below their recent four-month peaks, as the prospect of tighter U.S. crude supply was offset by concerns about a slowdown in global economic growth.
- U.S. crude was last down 18 cents at $59.23 a barrel.
- Brent crude futures lost 10 cents to $67.73.
- Gold was relatively sedate at $1,310.85 per ounce.
- The 10-year yields fell to a fresh 15-month low at 2.34 percent.