Asia shares fall due to China worries, gold and bitcoin prices rise

From Investing.com: 2024-10-29 22:45:45

Asia shares dipped due to weakness in China ahead of the U.S. election. Gold hit a record high, while bitcoin neared a peak. MSCI’s Asia-Pacific index fell 0.22%, with China’s CSI300 down 0.16%. China may approve $1.4 trillion in extra debt to boost the economy. U.S. stock futures rose, led by Alphabet’s strong results.

China’s new energy vehicles index rose despite EU tariffs on Chinese electric vehicles. U.S. tech giants like Meta Platforms and Microsoft report earnings soon. Investors focus on U.S. data including ADP employment report and GDP estimates. Bitcoin gains on possibility of Trump win. Dollar holds near 3-month high, yen weakens.

Oil prices rose slightly, with gold also ticking higher. U.S. data this week will guide Fed policy outlook. Dollar remains strong, yen weak. Australian dollar up slightly. Gold prices hit nearly $2,780 an ounce. Oil prices rise slightly.



Read more at Investing.com: Asia shares stumble on China headwinds; gold and bitcoin buoyant By Reuters