Asian shares drop as U.S. stimulus talks drag on

Asian shares fell on Thursday and U.S. Treasury yields ticked lower as investors fretted over the slow pace of U.S. stimulus talks and a surge in global cases of COVID-19.

Asian Shares

  • In morning trade, MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was down 0.63%.
  • Australian shares .AXJO gave up 0.6%, Seoul’s Kospi .KS11 was off 0.59%.
  • Chinese blue-chips .CSI300 dropped 1.1%.
  • The Nikkei .N225 was 0.69% lower.

Currency Markets

  • On Thursday, the dollar was 0.11% higher against the yen at 104.67.
  • The euro notched down 0.19% to $1.1839.

Commodities

  • In commodity markets, oil prices dropped, adding to sharp losses overnight, after higher U.S. gasoline inventories pointed to a deteriorating outlook for fuel demand as coronavirus cases soar.
  • U.S. West Texas Intermediate (WTI) crude futures fell 0.6% to $39.79 a barrel and Brent crude futures wer 0.48% lower at $41.358 a barrel.

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