Economic news

China shares lead decline in Asia

Asian shares slipped on Monday as China’s markets slumped after a long holiday even though Chinese central bank stimulated the flagging economy to offset the influence of an escalating trade row with the U.S.

Photo: Reuters

MSCI’s broadest index of Asia-Pacific shares tumbled 0.9 percent. China’s blue-chip CSI300 index dipped 3.5 percent and the main Shanghai Composite Index lost 2.9 percent.

Hong Kong’s Hang Seng index fell 0.5 percent. Japan markets are shut for a holiday.

South Korea's Kospi Index sank 0.6 percent and Australia’s ASX 200 dropped 1.3 percent.

Oil declined more than 1 percent after reports the U.S. could consider exemptions for countries that have already reduced their imports of Iranian crude.

U.S. WTI fell 0.7 percent at $73.80 per barrel, while international benchmark Brent crude futures were 0.9 percent lower at $83.38 a barrel.

Spot gold slipped 0.5 percent to $1,196.51 per ounce.

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