Asian shares slip on fears of US slowdown

Published: December 26, 2018 11:54:57 | Updated: December 28, 2018 11:35:52

File Photo (Collected)

Asian shares were mostly lower on Wednesday after US President Donald Trump said that there was “nothing new” in efforts to end the partial government shutdown over a US-Mexico border wall.

Traders had no fresh leads from Wall Street, which was closed on Christmas. US stocks are headed for their worst December since the Great Depression in 1931.

South Korea’s Kospi gave up 1.6 per cent to 2,022.36 and the Shanghai Composite index shed 0.1 per cent to 2,503.05.

Japan’s Nikkei 225 index, which plunged 5.0 per cent on Tuesday, picked up 0.5 per cent to 19,241.87.

Shares rose in Taiwan but fell in Singapore, Indonesia and the Philippines. Markets in Hong Kong and Australia were closed, reports AP.

Benchmark US crude added 15 cents to $42.68 a barrel in electronic trading on the New York Mercantile Exchange. The contract settled at $42.53 a barrel in New York on Monday.

Brent crude, used to price international oils, dropped 19 cents to $50.28 a barrel.

The dollar strengthened to 110.45 yen from 110.31 yen. The euro rose to $1.1414 from $1.1392.

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