Asian stocks moved lower while the yen strengthened amid signs that Federal Reserve officials have split opinions on policy strategy.
Equities from Japan to Singapore registered declines, with Chinese shares traded in Hong Kong showing the biggest losses.
Oil recovered some losses after slumping toward $45 a barrel, as data showed U.S. crude and gasoline stockpiles declined.
Minutes from the Fed’s most recent meeting showed a lack of consensus about when to shrink the central bank’s balance sheet and how to approach policy strategy in a time of low inflation.
Geopolitical risk remains on investors’ minds as Kim Jong Un’s test of an intercontinental ballistic missile capable of striking the U.S. mainland sparked an emergency meeting at the United Nations Security Council.
These are the main moves in markets:
Japan’s Topix dropped 0.3 percent as of 1:22 p.m. in Tokyo. South Korea’s Kospi fell 0.2 percent and Singapore’s Straits Times Index dropped 0.3 percent.
Hong Kong’s Hang Seng Index fell 0.3 percent, while the Hang Seng China Enterprises Index retreated 0.7 percent. The Shanghai Composite Index was down 0.3 percent.
Currencies
The yen climbed 0.3 percent to 112.98 per dollar.
The New Zealand dollar slipped 0.2 percent while
The Australian dollar fell less than 0.1 percent.
Commodities
West Texas Intermediate crude futures rose 0.8 percent to $45.47 a barrel.
Gold was flat at $1,227.05 an ounce, after two days of gains.
Source: Bloomberg Pro Terminal
Junior Trader Stefan Panteleev
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