Asian shares were flat on Monday; U.S.-China talks begin

Asian shares were flat on Monday as investors were unable to shake worries about global growth, U.S. politics and the Sino-U.S. trade war, keeping the safe haven dollar near a six-week top against major currencies.

Asian Shares

Chinese stock indexes played catch-up when reopening after a week-long break.

  • China’s blue-chip index surged 1.6 percent.
  • Shanghai’s SSE (LON:SSE) Composite climbed 1.2 percent.
  • Australian stocks recouped some losses to end 0.2 percent lower.
  • South Korea’s KOSPI index was up 0.2 percent.

Currencies

“Against a backdrop of uncertainty and despite a Fed that is comfortably on hold, the dollar continues to win the least ugly contest.”

  • The euro was barely changed at $1.1322 after five straight days of losses took it to more than 2 weeks lows.
  • Sterling dithered at $1.2931.
  • The dollar index held near a six-week high around 96.695 against a basket of currencies,

Commodities

Oil prices slipped on concerns about slowing global demand amid a pick-up in U.S. drilling activity.

  • U.S. crude was 56 cents weaker at $52.16 per barrel.
  • Brent fell 36 cents to $61.74.

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