Economic news

Asian shares slip on trade risks

Asian shares were mixed in morning deals Monday as investors started a new month and quarter following sobering set of manufacturing surveys in region.

Photo: Reuters

MSCI's broadest index of Asia-Pacific shares slid 0.6 percent, extending a 2 percent decline last week.

Japan's Nikkei slumped 2.2 percent to an 11-week trough, with a factory survey showing sentiment had worsened due to trade war threats. South Korea's Kospi index was virtually unchanged along with Australia’s S&P/ASX 200.

Shanghai blue chips .CSI300 extended their decline with a drop of 2.3 percent that hit sentiment across the Asia-Pacific region.

Brent crude futures sank 97 cents to $78.26 per barrel, while U.S. WTI futures lost 73 cents to $73.42. The fall was still moderate given U.S. light crude jumped more than 8 percent last week, while Brent soared more than 5 percent.

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