Morning Report

EQUITY

Asian shares faltered on Tuesday and the dollar hovered near two-week lows as prospects for a Sino-U.S. trade deal was dealt a blow after the United States charged Chinese telecom firm Huawei with bank fraud and for conspiring to steal trade secrets.

MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.5 percent with Australia’s benchmark index down 0.7 percent and South Korea’s KOSPI off 0.6 percent.

Japan’s Nikkei slid over 1 pe8rcent. U.S. stock futures also lost ground following from a torrid overnight session on Wall Street, with E-Minis for the S&P 500 down 0.5 percent.

Overnight on Wall Street, the Dow and S&P 500 each closed down 0.8 percent and the Nasdaq was off more than 1 percent.

CURRENCY

U.S. dollar faltered to its lowest in two weeks on Monday. The dollar’s index, which measures the greenback against a basket of major currencies, was last at 95.766.

Against the safe haven Japanese yen, the dollar was down at 109.16, on track for a third straight session of losses.

Sterling was undecided against the dollar ahead of voting in Britain’s parliament on Tuesday that aims to break the Brexit deadlock. It was last at $1.3145

OIL

Oil remained on a slippery slope with U.S. crude down 0.17 pct at $51.90 a barrel and Brent easing a shade to $59.90 a barrel.

Source : Reuters

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