Economic news

Asian stocks slide as breakthrough in trade war eases

Asian stocks dropped on Tuesday as optimism over Sino-American trade agreement disappeared.

Photo: Reuters

MSCI’s broadest index of Asia-Pacific shares sank 0.3 percent. Japan’s Nikkei fell 2.4 percent as investors closed positions on risky assets.

South Korea’s Kospi slipped 0.5 percent, while Australia’s ASX 200 inched down 0.8 percent. In mainland China blue-chip shares in Shenzhen and Shanghai edged up 0.2 percent.

In oil markets, U.S. WTI futures climbed 1 percent to $53.46 a barrel, and Brent crude futures jumped 0.9 percent to $62.26 per barrel.

Spot gold soared on the broadly weaker dollar, rising 0.5 percent to $1,237.24 per ounce.

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