Asian shares stumble, sterling at mercy
Asian shares drifted lower on Wednesday as a risk-off mood settled on markets, while a frazzled pound awaited its fate ahead of yet another make-or-break parliamentary vote on Brexit.
- MSCI’s broadest index of Asia-Pacific shares outside Japan (MIAPJ0000PUS) eased 0.45 percent in slow trade.
- Japan’s Nikkei (N225) led the retreat with a fall of 1.2 percent.
- Shanghai blue chips (CSI300) slipped 0.5 percent following two days of gains.
- E-Mini futures for the S&P 500 (ESc1) were off 0.2 percent.
- The pound could do with some comfort after a wild couple of sessions. It was last at $1.3089.
- The dollar drifted off to 111.28.
- The euro marked time at $1.1287 (EUR=) having bounced from last week’s 20-month trough of $1.1174.
In commodity markets, the dip in the dollar helped gold reach its highest in two weeks.
- Gold last fetching $1,305.09 per ounce.
- U.S. crude firmed 30 cents to $57.17 a barrel.
- Brent crude (LCOc1) futures added 21 cents to $66.88.
- Yields on U.S. 10-year notes (US10YT=RR) duly declined to a 10-week low at 2.596 percent.