The Business Times

European stocks drop as Asian index posts ninth straight fall

Govt bonds climb before Fed reviews interest rates

Published Tue, Sep 16, 2014 · 04:00 PM
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[HONG KONG] European shares on Tuesday followed stocks lower in Asia, where the regional index is headed for the longest losing streak in 12 years, and government bonds climbed before the Federal Reserve reviews interest rates. Metals rebounded and the rouble fell to a new low.

The Stoxx Europe 600 Index dropped 0.7 per cent to 341.55 at 11.32am in London, while the MSCI Asia Pacific Index lost 0.5 per cent in its ninth straight retreat. The Shanghai Composite Index fell the most since March and the yuan weakened after foreign investment plunged to a four-year low.

US equity-index futures were little changed. Yields on 10-year notes from Australia to the UK and Germany fell as Treasuries climbed a second day. Gold rose with nickel. The rouble fell 0.9 per cent.

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