Asian stocks dip on US market cues
Asian stocks slipped and the dollar was under pressure on Wednesday in the lead up to the first U.S. presidential debate, as financial markets looked to take a measure of both candidates.
- MSCI’s broadest index of Asia-Pacific shares outside Japan edged down 0.1% in early trade. It is headed for a monthly drop of 3.3%, the largest fall since March.
- Japan’s Nikkei was down 0.2% and Australia’s ASX 200 fell 1.3%, while markets in Seoul rose 0.8%.
- Japanese shares fell on Wednesday, tracking overnight declines on Wall Street, as US President Donald Trump and Democrat Joe Biden traded barbs in a testy debate that made most investors reluctant to take on risky trades.
- The Nikkei 225 Index fell 0.25% to 23,479.09 by 0142 GMT, with industrial and technology shares leading the decline The broader Topix was down 0.5% at 1,649.88.
- The Dow and S&P 500 fell half a per cent and the Nasdaq Composite dropped 0.3%.
- In currency markets, the US dollar was also down slightly before the debate, hitting one-week lows against the euro and Swiss franc.
- he dollar index fell 0.3%.
- Spot gold steadied at $1,895 an ounce.
- Oil prices nursed losses amid caution ahead of the debate and rising coronavirus cases.
- U.S. crude fell 1% to $38.92 per barrel and Brent settled at $41.03.