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Asia stocks dip on likely smaller Fed rate cut, oil gains

Updated : July 22, 2019 08:22 AM IST

MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.1 percent. South Korea's KOSPI shed 0.3 percent, Australian stocks lost 0.2 percent and Japan's Nikkei fell 0.5 percent.
Global equity markets had risen briefly towards the end of last week after dovish comments by New York Fed President John Williams boosted the prospect of the central bank lowering rates by 50 basis points at its July 30-31 meeting.
Crude was buoyant after Iran’s Revolutionary Guards on Friday captured a British-flagged oil tanker in the Gulf after Britain seized an Iranian vessel earlier this month, further raising tensions along a vital international oil shipping route.
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