Asia Shares Slip As US Earnings Disappoint, Dollar Gains
October 12, 2016
Asian shares hit three-week lows on Wednesday after a dour start to Wall Street’s corporate earnings season knocked U.S. stocks, while the dollar and Treasury yields were at multi-month highs on growing expectations of a U.S. interest rate hike in December.
The British pound jumped back from lows in a volatile trading session, though concerns about a “hard Brexit” are likely to keep the currency under pressure.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.4 percent while Japan’s Nikkei futures slipped 0.6 percent.