Published: Sat, March 18, 2017
Business | By Sandy Mccarthy

Asian shares weaker with Fed rate views weighing

Asian shares weaker with Fed rate views weighing

The Shanghai Composite Index added 0.1 percent to 3,239.33.

In South Korea, the Kospi was up 0.1 percent as the won weakened against the dollar.

U.S. Treasury yields edged lower after data showing low inflation in March suggested that the Fed could potentially lower its forecasts for interest rate increases this year. Futures augured a tepid start on Wall Street with Dow futures down 0.3 percent and S&P futures shedding 0.4 percent.

The ECB will decide later whether to raise interest rates before or after ending its bond purchase program, policymaker Ewald Nowotny told a newspaper.

"The Fed was calm, sticking to what it said in its statement in December, but the market went too far expecting a more hawkish stance", said Norihiro Fujito, a senior investment strategist at Mitsubishi UFJ Morgan Stanley Securities. The U.K. government meanwhile could formally begin the process of exiting the European Union. The Netherlands has its own election this week, where politicians have also railed against the European Union and immigrants.

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Three years ago Jezki landed an emotional Champion Hurdle just prior to the death of Harrington's much respected husband, Johnny. Standing in the winner's enclosure afterwards, after saddling her tenth Festival victor , Harrington was virtually speechless.

The dollar edged 0.1 percent lower to a fresh five-week low against a basket of currencies .DXY . India's Sensex gained 1.6 percent to 29,401.19. Hong Kong's Hang Seng declined 35.10 points or 0.15 percent to end at 23,792.85. Australia's S&P/ASX 200 also was steady at 5,759.10.

Strong data out of China this week have sparked a fresh rally in Hong Kong stocks .HSI , while Indian shares climbed to a record high on Tuesday as investors saw Prime Minister Narendra Modi's landslide victory in the northern state of Uttar Pradesh as endorsing his economic reform agenda.

OIL: Benchmark U.S. crude oil fell 77 cents to $47.63 per barrel in electronic trading on the New York Mercantile Exchange.

The figure sent the dollar up against the yen - a plus for Japanese shares - but it retreated in Tokyo, trading at 114.70 yen, from 114.78 yen in NY. The contract fell 9 cents on Monday. Brent crude, which is used to price global oils, added 74 cents to $51.66 per barrel in London.

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