Asian stocks fall as Nafta cheer fades and economic fears set in
The US-Canada-Mexico deal bolstered Wall Street overnight, but sobering signs from China and the eurozone introduced a cautious note
Tokyo — Asian stocks fell on Tuesday as the lift from an agreement that saved the US-Canada-Mexico free trade deal faded. Cautious views on the global economy curbed risk sentiment. MSCI's broadest index of Asia-Pacific shares outside Japan fell 1% after a steady start. Australian stocks lost 0.8% and South Korea's Kospi fell 0.45%. Japan's Nikkei was flat, handing back earlier gains after briefly rising to a new 27-year high. China's financial markets are closed for the week of October 1-5 for national holidays. Hong Kong's Hang Seng, which did not trade on Monday due to a holiday, dropped 1.5% in reaction to signs of weakness in the Chinese manufacturing sector shown in purchasing managers' index (PMI) numbers released on Sunday. "While news that the US and Canada had struck a new Nafta trade deal gave the S&P 500 a lift overnight, dark clouds are gathering," strategists at OCBC Bank wrote in a note. "With some signs of weakness in the European and Asian manufacturing PMIs, Asian ...
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