Asian shares, oil ease as U.S.-China standoff spreads
Asian stocks fell the most in a week on Wednesday as the United States and China’s broadening dispute over trade and foreign policy showed little sign of coming to an end, weighing on global economic growth.
- MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.61%.
- Chinese shares fell 0.32% after briefly touching a five-week low.
- Australian shares were down 0.76%.
- Pan-region Euro Stoxx 50 futures edged up 0.03%.
- German DAX futures rose 0.03%, while FTSE futures eased 0.08%.
- Japan’s Nikkei slid 0.73%, its biggest decline in a week.
- Hong Kong shares fell 0.68% due to persistent worries about often violent protest against China’s rule of the former British colony.
- The onshore yuan opened at its weakest since Sept. 6 but then traded relatively flat at 7.1434 per dollar.
- The dollar index was little changed at 99.095. The euro traded at $1.0962, and the yen fell slightly to 107.15 per dollar.
- The euro increased 0.2% to $1.0984.
- The British pound climbed 0.1% to $1.2232.
- The Japanese yen weakened 0.1% to 107.24 per dollar.
- The yield on 10-year Treasuries rose one basis point to 1.54%.
- The yield on two-year Treasuries increased less than one basis point to 1.42%.
- U.S. crude fell 0.48% to $52.38 per barrel.
- Brent crude (LCOc1) fell 0.41% to $58.00 a barrel.