Monday, October 19, 2015

Asian stocks drop

Asian equities fell across the board on Tuesday after commodity prices languished in the wake of China growth woes and dampened risk sentiment. MSCI's broadest index of Asia-Pacific shares outside Japan shed 0.4 per cent. Shanghai shares dropped 0.4 per cent and South Korea's Kospi dipped 0.1 per cent. Japan's Nikkei bucked the trend and gained 0.3 per cent. Australian stocks lost 0.4 per cent as worries about China weighed on mining and energy stocks following Monday's China GDP data. The common currency was little changed at $1.1334 after reaching a 10-day trough of $1.1306. The dollar was nearly flat at 119.50 yen while the dollar index also held steady at 94.903 after a 0.2 per cent gain overnight, according to Reuters.

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