• Asian stocks slipped to three-week lows and Hong Kong’s unloved Hang Seng index slumped to a one-year trough on Tuesday while bonds and the dollar steadied as investors tempered expectations for cuts to U.S. interest rates and waited on U.S. jobs data.
  • MSCI’s broadest index of Asia-Pacific shares outside Japan was down 1% in late afternoon trade, with Hong Kong doing most of the dragging with a 1.6% fall.
  • The Hang Seng is down more than 17% for the year so far, while world stocks are up almost 15%, as investors have streamed out of Chinese assets while the economy stumbles.
  • Japan’s Nikkei was 1.4% lower at three-week trough, mostly thanks to falling chipmaking stocks. S&P 500 futures fell 0.2% and European futures were flat.