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Home / Business / Hong Kong leads Asian stocks lower, oil close to five-month lows by Reuters

Hong Kong leads Asian stocks lower, oil close to five-month lows by Reuters



© Reuters. A woman points to an electronic board showing the stock prices she is standing in front of the board after the opening ceremony on the Tokyo Stock Exchange (TSE), held to wish the success of Japan's stock market, in Tokyo

By Hideyuki Sano

TOKYO (Reuters) ̵

1; Asian stocks were lowered on Thursday when the Hong Kong market fell in other consecutive sessions after a day of massive street protests, while oil prices fluttered with five-month decline due to higher inventories and poor demand prospects.

Hope that the United States and China will make a sidelines deal by a group of 20 summits in Osaka on June 28-29, have been failing and also hurt emotions and driving bonds. [19659004] "There is not even a plan for ministerial-level bilateral meetings before the G20 summit. You cannot expect any major deal," said Hirokazu Kabeya, global strategic strategist at Daiwa Securities.

MSCI's widest Asia-Pacific index shares outsi de japan fell as much as 1%, as Hong Kong dropped 1.5% after Wednesday's 1.7% fall.

Sales pressure in Hong Kong came after a mass demonstration against the law that would allow citizens to be extradited to China triggered a mass protest and some of the worst troubles seen in the territory since the UK returned it to Chinese rule in 1997.

Japan lost 0.8% while US stock futures lost 0.3% in Asia, following small losses the previous The day when shed 0.20%.

Oil hovered near five-month downturns, pushed by another unexpected increase in US crude stocks, as well as the poorer outlook for demand due to the prospect of a prolonged male partial war between China and the United States.

futures barely moved to $ 60.06 in early trading after a 3.7% slide on Wednesday at $ 59.97 per barrel, the international benchmark's lowest closed since January 28.

U.S. West Texas Intermediate Raw Futures stood at $ 51.12 per barrel, compared to the previous day's down at $ 50.72 per barrel, the weakest settlement since January 14.

"It's a bit of a mystery that oil prices are so low when global stock prices are still relatively supported, but one thing is certain. Weaker oil prices will curb inflation and speed cuts," says Daiwa's Kabeya.

Government data showed on Wednesday US consumer prices rose sharply in May, with core annual inflation decreasing to 2.0% compared to a peak of 2.4% in July, adding to the growing expectations of a decline in the Federal Reserve rate over the coming months. 19659004] Investors will look at what Fed makers say after their next policy meeting on June 18, 19, with Fed Funds rate futures rates in a 25 basis point cut for the subsequent policy review on July 30-31

The 10- US Treasury bonds decline to 2.103 percent, close to Friday's 2,053 percent, lowest level since September 2017.

Bond yields fell in Asia. ine lowest levels since August 2016, with a 20-year return down 2.5 basis points from 0.220 percent.

In Australia, known for its high-yielding currency, yields to record low fell, with Three-year returns falling below 1 percent.

In the foreign exchange market, the yen rose 0.25% to $ 108.25, as the risk felt soured while the Australian dollar fell 0.2% to $ 0.6913.

The euro was slightly changed to $ 1,1293, after taking a hit on Wednesday after US President Donald Trump said he considered sanctions over Russia's Nord Stream 2 pipeline project and warned Germany against relying on Russia for energy .

British Pound is at the back of the foot after British lawmakers defeated an attempt led by the opposition Labor Party to try to block a non-agreement Brexit by taking control of the parliamentary agenda of the government.

Sterling picked up $ 1,268, not far from this week's low of $ 1,2653.


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