SYDNEY: Asian stocks stepped back from near eight-month highs on Thursday and the dollar eased as European and US central banks reinforced investor worries about the global economic outlook and trade protectionism.
In a fresh escalation of trade tensions, US President Donald Trump has threatened new tariffs on goods from the European Union even as the Sino-US trade dispute remains unresolved.
MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.3 per cent after four straight days of gains took it to the highest since last August.
Chinese shares were subdued with the blue-chip CSI300 off 1 per cent while Hong Kong's Hang Seng index stumbled 0.6 per cent.
Australian shares also lost ground, pressured by political uncertainty after the country's prime minister called a national election for May 18.
Japan's Nikkei fell 0.3 per cent as the yen strengthened.
"It has been another mixed day in the market with investors still searching for the next push one way or the other and the majority of products are trading at familiar levels," said Nick Twidale, Sydney-based analyst at Rakuten Securities Australia.
"Traders continue to operate in a 'wait and watch' mode as they look for the next opportunity in a cautious market. Two big event risks are now behind us with the ECB and Fed."
On Wednesday, the European Central Bank (ECB) kept it ..
'GREAT RETREAT'
Separately, data showed US consumer prices increased by the most in 14 months in March but underlying inflation remained benign against a backdrop of slowing global economic growth.
Minutes from a March 19-20 meeting of Federal Reserve policymakers showed they agreed to be patient about any changes to interest rate policy as they saw the US economy weathering a global slowdown without a recession in the next few years.
US Treasury yields slipped in r ..
In a fresh escalation of trade tensions, US President Donald Trump has threatened new tariffs on goods from the European Union even as the Sino-US trade dispute remains unresolved.
MSCI's broadest index of Asia-Pacific shares outside Japan slipped 0.3 per cent after four straight days of gains took it to the highest since last August.
Chinese shares were subdued with the blue-chip CSI300 off 1 per cent while Hong Kong's Hang Seng index stumbled 0.6 per cent.
Australian shares also lost ground, pressured by political uncertainty after the country's prime minister called a national election for May 18.
Japan's Nikkei fell 0.3 per cent as the yen strengthened.
"It has been another mixed day in the market with investors still searching for the next push one way or the other and the majority of products are trading at familiar levels," said Nick Twidale, Sydney-based analyst at Rakuten Securities Australia.
"Traders continue to operate in a 'wait and watch' mode as they look for the next opportunity in a cautious market. Two big event risks are now behind us with the ECB and Fed."
On Wednesday, the European Central Bank (ECB) kept it ..
'GREAT RETREAT'
Separately, data showed US consumer prices increased by the most in 14 months in March but underlying inflation remained benign against a backdrop of slowing global economic growth.
Minutes from a March 19-20 meeting of Federal Reserve policymakers showed they agreed to be patient about any changes to interest rate policy as they saw the US economy weathering a global slowdown without a recession in the next few years.
US Treasury yields slipped in r ..
0 Comments