Asian Equities Lower in Subdued Trade

Asian shares slipped on Tuesday as a U.S. holiday robbed markets of momentum, while the euro hit a fresh one-year low on uncertainty over the European Central Bank’s policy decision later this week.

Spreadbetters expected an effectively flat open for Europe, with Britain’s FTSE .FTSE, Germany’s DAX .GDAXI and France’s CAX .FCHI forecast to open about 0.1 percent higher.

MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS lost 0.6 percent after managing to carve out gains on the previous day.  With U.S. markets closed for Labor Day, investors in Asia were somewhat subdued. The mood was also tempered by persistent geopolitical concerns and anemic manufacturing surveys in Asia and Europe showing pockets of weakness in the global economy.

Reuters

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