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Asia shares slip, long for clarity on Fed policy


Added 08-22-19 04:03:01am EST - “Asian shares drifted off on Thursday as uncertainty over the outlook for both U....” - Reuters.com

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Posted By TheNewsCommenter: From Reuters.com: “Asia shares slip, long for clarity on Fed policy”. Below is an excerpt from the article.

SYDNEY (Reuters) - Asian shares drifted off on Thursday as uncertainty over the outlook for both U.S. interest rates and the chance of global fiscal stimulus sucked the life out of markets.

Not helping was a fresh slide in the Chinese yuan to an 11-year low, which dealers said prompted defensive buying from state-owned banks.

In early European trades, the pan-region Euro Stoxx 50 futures slipped 0.2% as did London’s FTSE futures. Germany’s DAX futures eased 0.3% while France’s CAC 40 futures were off about 0.4%.

Japan’s Nikkei ended a touch higher while Shanghai blue chips climbed 0.3%. Hong Kong’s Hang Seng index was among the biggest losers, down more than 1% as unrest in the Chinese-ruled territory disrupt business and investment.

Investor focus is next on a range of manufacturing surveys from across the globe later in the day and risks are they will show a further slowdown in activity, especially in Europe.

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