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Hong Kong Unrest Slumps Asian Shares

Asian shares got off on the back foot on Wednesday as continued civil unrest in Hong Kong sapped confidence. The dollar index was in sight of a four-year high after marking its best quarterly gain in six years.

Trading in Asia was expected to be more subdued than usual, with China closed for National Day and investors warily monitoring developments in Hong Kong's pro-democracy unrest, as thousands of protesters stepped up pressure on the city's pro-Beijing government.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.4 percent, while Japan's Nikkei stock average fell 0.2 percent. Japan's benchmark rose 4.9 percent in September, the biggest monthly rise since last November.

US Dollar vs. euro

The dollar index DXY, which tracks the greenback against a basket of rival currencies, touched a four-year high of 86.218, and last stood at 85.939.

The euro skidded as low as $1.2571 on Tuesday after data showed cooling euro zone inflation, the culmination of a dismal month in which the currency slipped 3.82 percent, its biggest decline in over two years. It was last steady on the day at $1.2629. The dollar added about 0.1 percent against the yen to 109.67 after rising to a six-year high of 109.86 yen on Tuesday.

Brent crude added about 0.2 percent on the day to $94.82 a barrel, after marking a 16 percent loss for the quarter, the biggest in two years. U.S. Crude added about 0.2 percent to $91.34 a barrel after shedding 12 percent for the quarter, also its biggest quarterly loss in two years.

Cina Coren
About Cina Coren
Cina Coren is a former Wall Street broker and financial advisor. She holds a Master's degree in Communications and spent many years writing for international news outlets and journalistic publications. Today, Cina spends most of her time writing internet articles and blogs, and reading various newspapers to stay on top of the news.

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