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Asia stocks slip; Ant Group gets approval to operate consumer finance firm – CNBC

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https://www.cnbc.com/2021/06/04/asia-markets-ant-group-alibaba-reserve-bank-of-india-currencies-oil.html

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SINGAPORE — Shares in Asia-Pacific slipped in Friday morning trade, with investors monitoring Alibaba’s Hong Kong-listed stock following a major positive development for its affiliate Ant Group.

In Japan, the Nikkei 225 fell 0.86% while the Topix index shed 0.51%. South Korea’s Kospi declined 0.44%.

Meanwhile, stocks in Australia declined, with the S&P/ASX 200 0.17% lower.

MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.16% lower.

Investors will monitor Hong Kong-listed shares of Alibaba after Ant Group received approval to operate a consumer finance company. That marked a major positive development for Ant in the forced restructuring of its business months after its highly anticipated debut was abruptly shelved.

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Looking ahead, the Reserve Bank of India is set to announce its interest rate decision at 2:15 p.m. HK/SIN on Friday.

Overnight on Wall Street, the Dow Jones Industrial Average dipped 23.34 points to 34,577.04. The S&P 500 dipped 0.36% to 4,192.85 while the Nasdaq Composite lagged, dropping 1.03% to 13,614.51.

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 90.476 after a recent climb from below 90.3.

The Japanese yen traded at 110.32 per dollar, weaker than levels below 110 seen against the greenback yesterday. The Australian dollar changed hands at $0.7655, lower than levels above $0.772 seen earlier in the week.

Oil prices dipped in the morning of Asia trading hours, with international benchmark Brent crude futures fractionally lower at $71.25 per barrel. U.S. crude futures traded slightly lower at $68.76 per barrel.

Here’s a look at what’s on tap:

  • India: Reserve Bank of India’s interest rate decision at 2:15 p.m. HK/SIN

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