(Adds Chinese shares, updates levels throughout)
* 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
By Swati Pandey
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 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 dropped 1.3% as did Australia’s benchmark share index. South Korea’s KOSPI was 1% lower, while Chinese stocks also started on the backfoot with the blue-chip index down 0.6%.
Oil prices stumbled more than 1% after an…