Asian shares slip after recent strong run
Equities in Asia take a breather from their recent surge as investors book profits, while the dollar inches up and optimism over possible renewed Opec cuts lifts oil
Singapore — Asian stock markets took a breather on Friday from their recent surge as investors booked profits, while the dollar inched up after Thursday’s slide and optimism over possible renewed supply cuts by Opec lifted oil prices. MSCI’s broadest index of Asia-Pacific shares outside Japan pulled back 0.1%, on track to end the week up 1.3%, its fourth consecutive weekly gain. Overnight, Wall Street lost momentum, with the Dow Jones Industrial Average barely eking out its sixth consecutive record high, while the S&P 500 and Nasdaq snapped a seven-day winning streak as investors slowed buying to digest recent gains. US President Donald Trump’s first solo news conference on Thursday, where he took a combative stance against the news media and deflected questions about contacts between his presidential campaign and Russian operatives, also gave investors pause. "Apart from a reflection of the slight easing in US market momentum after several strong days, investors are making some gre...
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