Asian shares lost some steam in trading on Wednesday
Asian shares lost some steam in Asian trading on Wednesday while sterling came off five-month highs as investors remained uncertain whether crunch talks in Brussels would lead to a deal to avoid a disorderly British exit from the European Union.
- European stocks were on track to open lower after big gains the previous day, with pan-European Euro Stoxx 50 futures (STXEc1) down 0.19%, German DAX futures (FDXc1) shedding 0.25%.
- FTSE futures (FFIc1) losing 0.39%.
- U.S. S&P500 futures fell 0.3% also on rising caution over U.S-China trade deal after China lambasted new legislation taking a hard line on China.
- MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.4%.
- Japan’s Nikkei jumped 1.5%, hitting 10-month highs.
- South Korea’s KOSPI index climbed 0.6%, encouraged by South Korea’s central bank cutting its policy interest rate for the second time in three months.
- The yen stood at 108.68 per dollar, compared to Tuesday’s low of 108.90.
- The dollar’s index against a basket of six major currencies hovered near three-week lows at 98.316.
- The euro (EUR=) was little changed at $1.1032.
- In commodities, Brent crude added 10 cents to $58.84 a barrel.
- U.S. crude rose 7 cents to $52.88 after falling the previous session over fears the unrelenting U.S.-China trade war would keep squeezing the global economy.
- Spot gold firmed slightly to $1,483.86 an ounce.