By Wayne Cole SYDNEY (Reuters) – Asian shares lost out to safe-harbour bonds on Wednesday as Sino-U.S. trade talks produced nothing but white noise, while concerns about a supply glut left oil prices nursing their biggest one-day loss in seven weeks. Graphic: Asian stock markets – https://product.datastream.com/dscharting/gateway.aspx?guid=516bc8cb-b44e-4346-bce3-06590d8e396b&action=REFRESH Figures from the American Petroleum Institute out late Tuesday showed a far larger rise in crude stocks than expected. That followed reports Russia was unlikely to deepen its cuts to crude output. Brent crude futures eased another 10 cents to $60.81 a barrel, after sliding 2.6% overnight, while U.S. crude dipped 2 cents to $55.19. The mood in share markets was sombre with MSCI’s broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> off 0.7%. Japan’s Nikkei <.N225> fell 0.8% and Shanghai blue chips <.CSI300> 0.5%. Australia’s main index <.AXJO> sank 1.3% led by the banks after the country’s financial crime regulator alleged Westpac had breached laws on over 23 million instances and applied for civil penalties against the lender. E-Mini futures for the S&P 500 shed 0.2% and EUROSTOXX 50 futures 0.2%. The prospects for progress on trade dimmed when China condemned a U.S. Senate measure on Hong Kong, vowing to take […]
