Asian Stocks, gold slide on Stimulus end Prospects

Asian shares and gold retreated on Wednesday and bond yields were near two-week highs after markets were rattled by a report flagging the possible withdrawal of global stimulus measures. 

 

MSCI's broadest index of Asia-Pacific shares outside Japan slid 0.5 percent in early trading. Japan's Nikkei gained 0.1 percent, aided by a weaker yen. Bloomberg reported on Tuesday that the European Central Bank (ECB) would probably wind down its 80 billion euro (USD90 billion) monthly bond purchases gradually before ending its quantitative easing programme, citing unnamed officials at euro zone countries' central banks. 

 

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ECB media officer Michael Steen later tweeted that the central bank's decision-making body has not discussed reducing the pace of its monthly bond buying. Rates would remain low until inflation gets up to the ECB's target, its chief economist Peter Praet told bankers on Tuesday.