October 20, 2021
Markets

GLOBAL MARKETS-Asia shares fall as global energy crunch fuels inflation worries

By Julie Zhu

HONG KONG, Oct 12 (Reuters) – Asian shares dropped and the safe-haven dollar held firm on Tuesday, as a global energy crunch fuelled inflation fears, clouding investor sentiment before the U.S. corporate earnings season.

MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.9% in early trade, after U.S. stocks ended the previous session with mild losses. U.S. stock futures, the S&P 500 e-minis, fell 0.43%.

Australian shares slipped 0.29% while Japan’s Nikkei stock index slid 1.03%.

China’s blue-chip CSI300 index was 0.75% lower, while the Hong Kong’s Hang Seng index opened down 1.35%.

“Risk markets had a mixed start to the week amid light data flow and ahead of the US earnings season,” ANZ analysts said in a note.

“Economies appear to be entering a more challenging phase of the cycle and we think investors and corporates will be monitoring how the economic data…

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