Asian Shares Held Back By Cautious Mood, Oil Surges

www.oann.com | 4/8/2019 | Staff
trainman (Posted by) Level 3
TOKYO (Reuters) – Asian shares got off to a subdued start on Tuesday as investors braced for key events later in the week, including the kick-off of the U.S. earnings season and a crucial Brexit summit, while broader concerns over slowing global growth checked sentiment.

MSCI’s broadest index of Asia-Pacific shares outside Japan was basically flat after brushing its highest since late August last year during the previous session.

Shares - Percent - Japan - Nikkei - Percent

Australian shares dipped 0.25 percent while Japan’s Nikkei was down 0.15 percent.

Wall Street shares delivered a mixed performance on Monday, with the Dow Jones Industrial Average losing 0.3 percent while the S&P 500 added 0.1 percent. Concerns over slowing U.S. earnings have undermined U.S. equities in recent sessions, though a strong jobs report last week helped to soothe frayed nerves.

S - P - Momentum - Session - Gains

The S&P 500, however, moved on its own momentum for its eight straight session of gains and the longest winning streak since October 2017, as rallying crude prices lifted energy shares.

Broader market sentiment remained subdued as investors’ focus was on potential flashpoints, including a crucial Brexit summit as well as a meeting on trade between the European Union and China set for later on Tuesday.

Market - Mode - Nick - Twidale - Officer

“The market is very much in a wait-and-watch mode,” said Nick Twidale, chief operating officer at Rakuten Securities Australia in Sydney.

“It’s looking for the next catalyst that’s hopefully going to take stock markets higher, but it’s also very wary that we’ve had such a great run...
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