Asian shares drop as US presidential debate is awaited
On Monday, Asian shares started the week under a cloud after losses on the Wall Street. Moreover, traders’ attention shifted from major banks to American politics
Outside Japan MSCI's broadest index of Asia-Pacific stocks extended early losses and slumped 0.7% by midday, while Nikkei stock index sagged a similar amount as the Japanese yen strengthened.
Wall Street logged weekly profits, though ended with solid losses on Friday. Then, the S&P 500 recorded its best weekly performance for more than two months after the major US bank held interest rates intact on Wednesday.
With about six weeks to go before the November 8, American presidential election, Reuters/Ipsos surveys showed approximately 20% of the electorate are still undecided, which is far higher at this stage in the campaign than the 12% undecided four years ago.
Monday evening's debate between Hillary Clinton and Donald Trump appears to be the first of three debates ahead of the long-awaited election. It could set American television audience records and it’s going to be watched all over the world.