Asian Stocks tracked Wall Street losses on Thursday

Asian stocks tracked Wall Street losses on Thursday as latest exchanges between Beijing and Washington signaled the heightened risk of a prolonged trade war, stoking investors’ concerns about the impact on global economic growth.

Asian Stocks

  • Japan’s Nikkei was down 0.85% and Australian stocks shed 0.7%.
  • The Shanghai Composite Index fell 0.8% and Hong Kong’s Hang Seng lost 0.35%.
  • Japan’s Nikkei was down 0.85% and Australian stocks shed 0.7%.
  • MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.1% lower after briefly slipping to a fresh four-month low.

Currency

  • The dollar index against a basket of six major currencies was steady at 98.085 and in reach of a two-year peak of 98.371 set last week, with the greenback serving as a safe haven.
  • The euro was a shade higher at $1.1139, pulling back slightly following three successive days of losses.
  • The dollar was little changed at 109.530 yen after bouncing back from a two-week low of 109.150 brushed on Wednesday.

Commodities

  • Oil prices rose modestly after an industry report showed a decline in U.S. crude inventories that exceeded analyst expectations.
  • U.S. crude futures were up 0.46% at $59.08 per barrel after brushing $56.88 the previous day, their lowest since March 12.
  • Brent crude added 0.2% to $69.59 per barrel.

Bonds

The 10-year U.S. Treasury yield stood at 2.262% after falling to a 20-month low of 2.210% on Wednesday.

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