Asian Shares Retreat As New Year Rally Runs Out Of Steam

Published on 11 January 2018

Most major indexes closed down in trading today as the “New Year rally” in Asian shares faded after a decline on Wall Street overnight and amid rising government bond yields and bearish investor sentiment, according to Bloomberg.

The broad-based MSCI Asia Pacific index shed 0.4% today, while Japan’s Nikkei 225 index fell 0.3% and South Korea’s Kospi index dropped 0.5%.

Mikio Kumada, a global strategist at LGT Capital Partners, advised investors: “It’s better to take some chips off the table – markets do look a little frothy. Eventually there will be a sell off or a correction that will offer better opportunities.”

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