Asian shares slipped on Tuesday, dragged down by losses in Hong Kong and Shanghai, while the euro held near its highest level in a week after an orderly auction of Greek default insurance eased fears about the threat to the single currency posed by Greece.
Commodities were broadly weaker, with base and precious metals both edging down, while crude oil eased around half a percent on an improved supply outlook as Libyan exports are returning to pre-war levels faster than expected.
MSCI's broadest index of Asia Pacific shares outside Japan fell 0.5 percent, led by a fall of 0.8 percent in Shanghai stocks and a 0.7 percent decline for Hong Kong's Hang Seng index. Tokyo markets were closed for a holiday.
"Momentum is clearly stalling right now and in need of distinct signals, whether it be U.S. housing data pointing to a stable recovery or stronger indications of policy easing in China," said Kim Se-joong, an analyst at Shinyoung Securities in Seoul.
Services and Insurance Sectors Push DFM Index Higher
The DFM General Index inched up to reach at 2,323.34 points on Wednesday 22nd May 2013.The index spending most of the session in the green zone added 3.99 points or 0.17 percent.
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Key Sectors Turn QE Index Green
The QE Index continued pacing its way higher throughout the day to close its trading in the green territory at 9,085.9 on Wednesday 22nd May 2013, achieving 0.54 percent or 48.95 points for the sessi
ADX Index Dips but Volume Improves
The ADX General Index spending most of the session below the break – even line closed in the red at 3,503.38 points on Wednesday 22nd May 2013. The index trimmed 6.26 points or 0.18 percent for the e
Bonds seen consolidating after recent rally; lack of OMO hurts
Government bonds fell for a second consecutive session on Wednesday, continuing to retreat from a recent rally as the Reserve Bank of India has yet to announce bond purchases that had been widely exp