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Home / Business / Asian stocks drive lower, sterling expecting its fate By Reuters

Asian stocks drive lower, sterling expecting its fate By Reuters



<img alt = "© Reuters. PHOTO PHOTO: A woman points to an electronic board showing the stock prices she is standing in front of the board following the opening ceremony at the Tokyo Stock Exchange, TSE, to succeed in Japan's stock exchange success in Tokyo [19659002] © Reuters FILE PHOTO: A woman points to an electronic board showing the stock prices she is standing in front of the board after the opening ceremony at the Tokyo Stock Exchange, TSE, to succeed Japan's stock exchange success in Tokyo [19659003] By Wayne Cole

SYDNEY (Reuters) – Asian stock markets were mostly red on Wednesday as a risk-free mood, which took care of investors, while a frazzled pound was waiting for its fate before a new parliamentary vote on Brexit.

MSCI's broadest index for Asia-Pacific stocks outside Japan () eased 0.4 percent in slow trade and almost all major indices in the region suffered losses.

Japan's Nikkei () led the way with a fall of 1

.3 percent as data showed machinery orders fell in January at the fastest pace in fir. e months.

Shanghai blue chips () slid 0.4 percent after two days of winnings. E-Mini futures for S & P 500 () were 0.25 percent.

The risk intelligence had soured after British legislators shattered Prime Minister Theresa May's European divorce agreement, forcing Parliament to decide whether to repay a non-agreement Brexit or Search for the latest delay by day.

Lawmakers voted against Mike's changed Brexit agreement by 391 to 242 when her last minute spoke to EU chiefs on Monday to persuade critics' concerns eventually, proved useless.

The Storting will vote later on Wednesday to leave the EU without agreement, and if it fails, a further vote on Thursday will determine whether the Brexit deadline should be extended.

"The voice today seems safe to go against the government," said David de Garis, chief financial officer and market at National Australia Bank.

"Assuming the Thursday vote finds a majority for an extension – as we expect – it will probably be a little comfort for sterling," he added. "It's still a fast moving environment, with political pressure on comprehensibly extreme levels."

The pound can do with some comfort after a wild couple sessions. It was last at $ 1.3085 after being as high as $ 1,3296 and as low as $ 1,3017 so far this week.

U.S. INFLATION SLOWS

On Wall Street, Boeing Co. (N 🙂 throws another 6.1 percent for the largest two-day drop since June 2009, when several countries grounded the company's 737 MAX 8 plan after Sunday's crash in Ethiopia, the second deadly crash in months.

The decline in Boeing pushed Dow () down 0.38 percent, even as S & P 500 () gained 0.30 percent and Nasdaq () increased 0.4 percent. ()

A soft US inflation report for February burned bonds while it was tarnishing dollars. The annual consumer price inflation fell to its lowest since September 2016 of 1.5 per cent.

The data just reinforced expectations, the Federal Reserve will stay patient on prices and even sound offended at its political meeting next week.

Dividends on US 10-year notes () waved to a 10-week low of 2,596 percent, while the dollar was led to 96,956 () against a basket of currencies.

The dollar drifted to 111.18 while the euro climbed to $ 1.189 () and away from last week's 20-month tranche of $ 1.174. [USD/]

In the commodity markets, dipping in dollars helped gold reach its peak in two weeks, and it was last at $ 1.304.11 per ounce .

Oil prices tightened Global supply after a Saudi official said the kingdom is planning to cut oil exports in April, while the US government reduced the forecast for domestic crude product growth. [O/R]

U.S .. raw () was up 20 cents at $ 57.07 per barrel, while Brent crude () futures added 11 cents to $ 66.78.


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