Asia Stocks Step Back On Tepid Wall Street, Oil Elevated

www.oann.com | 5/14/2018 | Staff
Mireille (Posted by) Level 3
TOKYO (Reuters) – Asia stocks pulled back on Tuesday, after an uninspiring performance on Wall Street eclipsed support from U.S.-China trade optimism, while supply concerns kept crude oil prices near 3-1/2-year highs.

MSCI’s broadest index of Asia-Pacific shares outside Japan dipped 0.16 percent after rising 0.6 percent the previous day to its highest since late March.

Stocks - Percent - South - Korea - KOSPI

Australian stocks inched up 0.05 percent, South Korea’s KOSPI shed 0.05 percent and Japan’s Nikkei was flat.

Investors in Chinese equities will likely rejig their exposure after MSCI, the U.S. index publisher, published its latest index weighting.

MSCI - Tuesday - Caps - Indexes - June

MSCI said on Tuesday that 234 Chinese large caps will be partially included in its global and regional indexes on June 1, following an index review ahead of China’s inclusion in MSCI’s widely tracked equity benchmarks.

Brent crude added 0.2 percent to $78.38 a barrel and in close reach of $78.53, the 3-1/2-year high marked on Monday. U.S. crude oil futures advanced 0.15 percent to $71.07 a barrel and in reach of $71.89, the highest since November 2014 scaled on Thursday.

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