Shanghai markets had rallied on Tuesday on news Beijing would allow local governments to use cash from special bonds to fund investment projects. Early Wednesday, the MSCI’s broadest index of Asia-Pacific shares outside Japan was up a slim 0.1%, having climbed 1% the day before. It was the biggest fall since a 22% decline in September 2001 and the seventh consecutive drop in monthly domestic passenger vehicle sales. Meanwhile, Trump also put currency markets on edge by tweeting that the euro and other currencies were “devalued" against the dollar, putting the US at a “big disadvantage". In commodity markets, all the chatter of rate cuts globally kept gold near 14-month highs at $1,326.75 per ounce.

Source: Mint June 12, 2019 00:33 UTC