Asian shares hit 1-wk lows on renewed virus scare, inflation worry

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An investor looks at an electronic board showing stock information at a brokerage house in Beijing, August 27, 2015. REUTERS/Jason Lee

  • MSCI ex-Japan slips for a second straight day
  • Japanese yen edges up against U.S. dollar
  • Oil prices fall more than 1% on oversupply fears
  • Gold inches up to stay above $1,800 an ounce

SYDNEY, July 19 (Reuters) – Asian shares slipped to a one-week low on Monday and perceived safe haven assets, including the yen and gold, edged higher amid fears of rising inflation and a surge in coronavirus cases, while oil prices fell on oversupply worries.

MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 1.1% for a second straight day of losses to 677.45, a level not seen since July 12. The index was on track for its biggest daily percentage drop since July 8.

Japan’s Nikkei (.N225) dropped 1.3% as did Australia’s benchmark share index (.AXJO). South Korea’s KOSPI (.KS11) was 1% lower, while Chinese stocks also…

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