Sunday 23 July 2017

Asian shares slip as risk appetite ebbs, dollar sulks

 Asian stocks slipped on Monday as demand for riskier assets ebbed after their recent strong gains, while the European Central Bank's apparent equanimity at the euro's two-year highs left the dollar languishing. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.2 percent. Japan's Nikkei dropped 0.9 percent, pressured by a stronger yen.Chinese shares bucked the trend, with bluechips up 0.3 percent and the Shanghai Composite advancing 0.2 percent. Hong Kong's Hang Seng added 0.4 percent. Australian shares retreated 1 percent and South Korea's KOSPI edged down 0.1 percent. Commodity Trading Tips

On Friday, global stocks ended a 10-day winning streak, taking a breather from a rally that had propelled them to a record high in the previous session. The declines continued on Monday, with the index marginally lower. Wall Street indexes ended Friday flat to about 0.15 percent lower, as disappointing earnings from General Electric and energy shares weighed. European shares also closed lower, with Germany's DAX slumping 1.7 percent, dragged lower by the euro's strength. The euro was trading slightly higher at $1.1669 on Monday, just a whisker below a two-year high of $1.1684 hit earlier in the session. Nifty Trading Tips

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