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Asia shares weaker, oil up; investors weigh Saudi-Houthi escalation
SYDNEY: Asian markets were slightly weaker on Wednesday even though US stocks touched new highs, as oil prices rose with a storm heading for the Gulf of Mexico and tensions escalating between Saudi Arabia and Yemen’s Iran-backed Houthis. In Asia, MSCI’s broadest index of Asia-Pacific shares excluding Japan was down 0.3% after US stocks ended higher. The index is up 1.5% so far this month. The S&P 500 hit a fresh record on Tuesday, up about 0.6% on the day, while the tech-heavy Nasdaq gained 0.45%, also an all-time high. The Dow Jones Industrial Average rose 0.5%. In Asian trading, US crude...
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