Global Markets: Asian shares fall as bets off on sharp U.S. rate cuts [Reuters]
NATL AUSTRALIA BK S/ADR (NABZY)
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Source: Reuters
Asian shares fall as bets off on sharp U.S. rate cuts - Reuters 5 Min Read SYDNEY (Reuters) - Asian shares fell on Monday after strong U.S. jobs data tempered expectations for a Fed rate cut, while the Turkish lira hovered near two-week lows on worries about central bank independence. Share sentiment was also dampened by U.S. investment bank Morgan Stanley’s decision to reduce its exposure to global equities due to misgivings about the ability of policy easings to offset weaker economic data. Asian shares were broadly weaker on Monday, tracking Wall Street which fell from record highs last week. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS lost more than 1%, with every market in the red. Japan's Nikkei .N225 faltered 0.9%. Chinese shares started lower with the blue-chip index .CSI300 off 1.7% and Hong Kong's Hang Seng index .HSI down 1.5%. South Korea's KOSPI .KS11 was off 1.8% and Australian shares slipped about 1% to a five-week low. “We are lowering our
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