Asia stocks struggle after yet another Brexit delay; Singapore share index down 0.3%

TOKYO - Asian shares and US stock futures dipped on Wednesday after British lawmakers rejected the government's timetable to fast-track legislation for its deal to take Britain out of the European Union.

S&P500 mini futures dropped 0.4 per cent while Japan's Nikkei dipped 0.3 per cent. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.17 per cent.On Tuesday on Wall Street, the S&P 500 lost 0.36 per cent. The defeat in parliament meant Britain would not be able to finalise its exit by Prime Minister Boris Johnson's Oct. 31 deadline.

"Broadly speaking, there are two scenarios. There will be a short extension before the parliament will agree on Johnson's plan. Or there could be a general election, which would need a longer extension," said Kyosuke Suzuki, director of forex at Societe Generale.Receding worries about a no-deal Brexit also underpinned the euro, which stood at US$1.1130, off Monday's two-month high of US$1.1180.

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