Key Points
SYDNEY (Reuters) Asian sharemarkets started the last month of the year on a cautious note after recent strong gains, though growing expectations Europe and the U.S. are poised to cut rates should help ease pressure on local currencies and central banks...
Global oil prices extended losses after a drop of more than 2% overnight as voluntary oil output cuts by OPEC+ producers for the first quarter next year fell short of market expectations..
MSCIs broadest index of Asia-Pacific shares outside Japan fell 0.5% after a surge of 7.3% last month, the most since January..
The major surprise was with euro zone inflation, which missed expectations by a large margin, triggering a slide in the euro and prompting markets to price in rate cuts of about 110 basis points next year, commencing as early as April...
Declining interest rates in Europe and the U.S. would be good news for Asia, greatly easing the pressure on emerging market currencies and allowing room for Asian central banks to ease monetary policy...
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