Risk aversion, fragile sentiment prevail
Asian markets finish mixed; Singapore shares pull back from previous day's losses to end almost flat at 3,032.08
RISK aversion is likely to remain the dominant theme this week as a clear catalyst for any change of sentiment remains absent. Asian markets were largely muted on Wednesday and finished mixed.
The Shanghai composite gained 0.33 per cent. Japan's Nikkei 225 also recovered from earlier losses to close 0.37 per cent higher. In contrast, Hong Kong's Hang Seng index slipped 0.38 per cent. while South Korea's Kospi slipped 0.4 per cent.
Overnight, US stocks finished lower on the back of industrial manufacturing firm Caterpillar Inc reporting that rising costs for the company from higher steel prices and tariffs. Italy was also in focus after Prime Minister Giuseppe Conte said that his government had no back-up plan for its budget.
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