Asian markets retreated Wednesday after two days of gains but the pound enjoyed some stability after the previous day's sharp losses sparked by ...
HONG KONG: Asian markets retreated on Wednesday after two days of gains but the pound enjoyed a slight uptick after the previous day's sharp losses as British officials looked to ease concerns about the possible impact of a no-deal Brexit.
In a bid to ease concerns about the financial impact on the economy if MPs vote later in the day to leave with no agreement, officials in London said they will slash tariffs on 87 per cent of imports, and will not apply customs checks on the border with Ireland. The news from London added to selling pressure on Asian equity markets, which had enjoyed a bounce Monday and Tuesday from last week's battering, with investors still on edge over the state of the global economy.Seoul shed 0.4 per cent, Sydney gave up 0.2 per cent and Singapore was off 0.5 per cent. Wellington and Manila also retreated, though Taipei, Mumbai and Jakarta were slightly higher.
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