Sydney — Asian shares slipped on Tuesday amid escalating trade tension and worry about the fading outlook for global tech giants, but investors held their nerves to focus instead on prospects for stronger world growth. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.4% on Tuesday, compared with losses of more than 2% on each of the three Wall Street indices overnight. The US dollar steadied against the safe-haven yen after declining for three consecutive days and gold, which is often seen as a store of value during times of financial or political uncertainty, inched lower. US treasuries saw a bit of selling too with yields on 10-year notes off two-month lows. Meanwhile, e-mini futures for the S&P 500 climbed 0.4% and Dow futures were also up 0.2%. "Markets are being supported by global growth, most indicators that have come out recently are pretty solid," said Shane Oliver, Sydney-based chief investment strategist at AMP Capital. "Asian investors have looked at the...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.