Wednesday, 19 December 2018

Asia Stocks Hesitant As Investors Rush To Bonds

Asian share markets played second string to bonds on Wednesday as a spectacular fall in the price of oil spurred speculation the U.S. Federal Reserve might be done with tightening after its policy meeting later in the session. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.4 percent, while Shanghai blue chips were flat. Japan’s Nikkei steadied after an early dip and E-Mini futures for the S&P 500 added 0.4 percent. Oil had stolen the show as a supply glut saw Brent shed almost 6 percent overnight. U.S. crude was last down another 13 cents at $46.11 a barrel, while Brent recouped just 4 cents to $56.30.
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