Asian shares slip as traders keep their eyes on US midterms
Equities wobble, supported by Wall Street gains but sentiment is tempered ahead of the US congressional elections
Tokyo — Asian shares wobbled on Tuesday, supported by Wall Street gains although sentiment was tempered ahead of the US midterm elections, the first major electoral test of President Donald Trump’s big tax cuts and hostile trade policies. MSCI’s broadest index of Asia-Pacific shares outside Japan edged down 0.1%, weighed by a fall in and Chinese shares and technology shares while Japan’s Nikkei managed to gain 1.0%. Shares in Asia-Pacific Apple suppliers such as Taiwan's Hon Hai Precision Industry, eased after Apple lost 2.8% after the Nikkei newspaper reported that the company had told its smartphone assemblers to halt plans for additional production lines dedicated to the iPhone XR. On Wall Street, the S&P 500 gained 0.56%, with financials such as Berkshire Hathaway supported by strong earnings. In oil markets, crude prices wobbled near multi-month lows after the US granted eight countries temporary waivers allowing them to continue buying oil from Iran as Washington formally impo...
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