HONG KONG/NEW YORK: Asian shares slipped on Tuesday, brushing off a firmer Wall Street lead as China's post-holiday rally cooled, although a buoyant t...
Asian shares slipped on Tuesday, brushing off a firmer Wall Street lead as China's post-holiday rally cooled, although a buoyant tech sector and fresh optimism about U.S. stimulus are expected to continue to support sentiment.
Despite the volatility across the region on Tuesday, Surich Asset Management founder Simon Yuen said he was confident Asian stock markets would retain positive fundamentals following the U.S election on Nov 3. Australian S&P/ASX 200 was the region's only bright spot, up 1% on firmer bank stocks and despite a selldown in major coal names after reports China could look to ban Australian imports of the commodity.
Investors now await U.S. bank results with JPMorgan and Citigroup kicking off third-quarter earnings season on Tuesday. Goldman Sachs, Bank of America and Wells Fargo and Morgan Stanley report later in the week. Beijing's tensions with Washington are also in view after the White House moved forward with three sales of advanced weaponry to Taiwan, sources familiar with the situation said on Monday.
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