Asian Stocks Pare Early Losses; Yen Declines: Markets Wrap
By-
Technology shares lead U.S. stocks lower; yen holds gains
- West Texas crude oil extends decline; dollar steadies
Asian stocks reversed early losses Wednesday as traders juggled continuing doubts about the prospects for Sino-American trade progress with signs of China stimulus and moves in Congress to end the U.S. government shutdown. The yen slid.
Shares in Hong Kong, China and Korea led the turnaround, even after all major U.S. benchmarks declined. White House adviser Lawrence Kudlow said that negotiations scheduled for next week will be “very, very important” and “determinative.” Meantime, the Senate scheduled a vote for Thursday on Democratic-backed legislation to reopen the government, the first sign of a possible way out of the shutdown. China’s central bank pumped liquidity into the banking system through a new tool…
Asian Stocks Pare Early Losses; Yen Declines: Markets Wrap
