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Asian markets were weaker as investor confidence flagged, while oil prices rose due to a storm threat in the Gulf of Mexico and escalating Saudi-Houthi tensions. MSCI's broadest index of Asia-Pacific shares excluding Japan fell 0.5%.
Indian shares trimmed losses after the Reserve Bank of India hiked its benchmark repo rate by 25 basis points to 5.5% to counter inflationary pressures, while financial stocks reversed early declines.
(Updates after RBI's policy decision) By Bharath Rajeswaran Oct 7 (Reuters) — Indian shares held losses on Wednesday in a broad-based decline, led by rate-sensitive sectors, afterthe central bank's 25-basis-point hike following persistent inflationary pressures from the Middle East war that forced rate-setters' hands g
Indian shares declined, led by rate-sensitive sectors, ahead of an expected 25 basis point rate hike by the Reserve Bank of India to combat inflation.
* Oil has continued to trend lower during Wednesday's APAC session as talks continue on the sidelines of this week's UN gathering. The fact negotiations are even taking place to facilitate Middle East energy shipments is driving optimism in markets but the situation remains very precarious. UST futures are higher, but