Asian shares edged lower on Tuesday after downbeat economic data pressured Wall Street ahead of key U.S. jobs data later this week that could provide a clue to the timing of the U.S. Federal Reserve's interest rate increase.
Chinese authorities have stepped up their crackdown on short-selling of shares, with the two main stock exchanges unveiling new rules that would make it even more difficult for speculators to profit from hourly gyrations in stock prices. The Shanghai and Shenzhen exchanges said in separate statements on Monday night that the rules, effective immediately, would prevent traders from borrowing and repaying stocks within a day.
The Canadian dollar languished at 11 year lows early on Tuesday after slipping along with other commodity currencies following a selloff in oil prices, stealing the focus from a subdued U.S. dollar that held steady against the euro and yen.
Oil prices edged up in early Asian trading on Tuesday following a 5% fall in the previous session, as high global production and a weakening economic outlook, especially in Asia, prompted analysts to warn of further falls.
Gold dropped for a third session in four on Tuesday, closing in on a 5.5-year low, with selling pressure supported by expectations that the Federal Reserve is set to raise interest rates this year.