Asian shares hit six-month low as
Asian shares suffered their steepest daily drop in nine months on Monday, as Sino-U.S. trade friction sent the yuan slumping to a more than decade trough and stampeded investors into safe harbors including the yen, bonds and gold.
- Australia’s S&P/ASX 200 Index lost 1.7%.
- South Korea’s Kospi index fell 2.2%.
- Hong Kong’s Hang Seng Index slid 2.9%.
- Shanghai Composite Index dropped 0.8%.
- S&P 500 futures fell 1.2%.
- The MSCI Asia Pacific Index lost 2.1%.
- The yen rose 0.6% to 105.99 per dollar.
- The yuan fell 1.4% offshore to 7.0773 per dollar.
- The euro was at $1.1129, up 0.2%.
- West Texas Intermediate crude dropped 1.1% to $55.04 a barrel.
- Gold rose 0.9% to $1,453.60 an ounce.
- The yield on 10-year Treasuries fell about seven basis points to 1.77%.
- Japan’s 10-year yields sank to minus 0.19% and earlier touched the bottom of the central bank’s target range.