Economic news

Asian stocks drop as political crisis in Italy deepened

Asian stocks slid on Tuesday while the euro fluctuated near 6-1/2 month trough amid rising political crisis in Italy, although a revival in diplomatic negotiations with North Korea and a decline in crude prices underpinned mood.

Photo: Reuters

MSCI’s broadest index of Asia-Pacific shares shed 0.4 percent after three straight days of gains.

Japan's Nikkei sank 0.6 percent. Hong Kong's Hang Seng index lost 0.7 percent.

The European single currency traded at $1.1630, having recovered from Monday's $1.1608, its trough since early November.

The dollar's index .DXY edged up 0.2 percent versus a basket of major currencies to trade near its top since mid-November. But versus the safe haven yen, the greenback slipped to 109 JPY.

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