Asian stocks dip after US presidential debate; Chinese shares at 7-mth low

Investing.com-- Most Asian stocks fell on Wednesday amid uncertainty over what is shaping up to be a hotly-contested U.S. presidential race, while concerns over trade saw Chinese markets hit a seven-month low.

Wall Street indexes clocked some gains on Tuesday as technology stocks rebounded from recent losses. But U.S. stocks, along with global markets, were nursing steep losses over the past week. Sentiment towards China was battered by progress in a U.S. bill that plans to restrict business with Chinese biotechnology companies. The House of Representatives almost unanimously voted in favor of the bill on Monday.

Sentiment towards China was also rattled by Trump reiterating plans to impose increased trade tariffs against the country.inflation reading due later on Wednesday, which is widely expected to factor into the outlook for interest rates. The reading is expected to show inflation eased slightly in August.Diminishing expectations for a 50 bps cut had rattled stock markets last week, amid some signs of resilience in the U.S. economy.

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