Asian shares slipped today after most US stocks pared gains

Asian shares slipped today after most US stocks pared gains made during their recent rally, although the Nasdaq benchmark reached its second straight day at a record high as oil prices rose.

Asian Shares

  • Australian S&P/ASX 200 fell 0.4 per cent.
  • Japan’s Nikkei 225 index lost 0.8 per cent.
  • South Korea’s Kospi slipped 0.3 per cent.
  • The Dow Jones Industrial Average fell 1.09 per cent.
  • The S&P 500 declined 0.78 per cent.
  • MSCI’s gauge of stocks across the globe fell 0.5 per cent, about 6 per cent below its all-time peak in February.

Commodities

Oil prices closed higher as concerns about a resurgence in coronavirus cases were offset by recent commitments from the major oil producers to rein in production.

  • Brent oil futures rose 38 US cents to settle at US$41.18 (RM175.62) a barrel.
  • US crude settled up 75 US cents at US$38.94.
  • Gold jumped 1.2 per cent yesterday as investors sought refuge in the safe-haven asset as they await remarks from the Fed meeting.
  • US gold futures settled up 1 per cent to US$1,721.90 an ounce.

Currency Markets

  • In currency markets, the safe-haven yen and Swiss franc both gained against the dollar for a second straight day this week.
  • The yen rose to one-week highs against the greenback, while the Swiss franc climbed to its highest in more than two months versus the greenback.
  • Latin American stocks and currencies were down yesterday as investors cashed in after a recent rally. Regional currencies weakened ahead of the Fed meeting.

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