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Asia Stocks Extend Losing Streak on Trade and U.S. Yield Woes


Tuesday, 9 October 2018 15:47 WIB

MSCI Asia PacificBursa Asia


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Asian equities fell for a seventh day as escalating trade friction between the world's two largest economies and a fresh seven-year high in U.S. Treasury yields continued to dampen the outlook for the region.

The MSCI Asia Pacific Index fell 0.9 percent to 157.41 as of 4:18 p.m. in Hong Kong, headed for its lowest close in nearly 15 months. Equity gauges in Japan and Australia led the declines while South Korea was closed for a holiday. China's Shanghai Composite Index rose after falling 3.7 percent on Monday, the most in almost four months.

U.S. Secretary of State Michael Pompeo on Monday cited "fundamental disagreement" with China’s foreign minister during a testy exchange in Beijing that highlighted rising anxiety between the countries. Stocks extended declines after the International Monetary Fund on Tuesday cut its forecast for global economic growth for the first time in more than two years, blaming trade tensions.

Source : Bloomberg


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