Asian equities slipped on Wednesday after most U.S. stocks pared gains made during their recent rally, although the Nasdaq benchmark reached its second straight day at a record high as oil prices rose.
FILE PHOTO: A man wearing a protective face mask, following the coronavirus disease outbreak, walks in front of a stock quotation board outside a brokerage in Tokyo, Japan, May 18, 2020. REUTERS/Kim Kyung-Hoon
Australian S&P/ASX 200 fell 0.4%, Japan’s Nikkei 225 index lost 0.8% and South Korea’s KOSPI slipped 0.3%. But the Dow and S&P 500 benchmarks both fell. Financial and industrial shares, which have been among stocks that have surged in recent weeks on hopes of an improved economic outlook, were the biggest drags on the S&P 500 on Tuesday.MSCI’s gauge of stocks across the globe fell 0.5%, about 6% below its all-time peak in February.
In currency markets, the safe-haven yen and Swiss franc both gained against the dollar for a second straight day this week.
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