The global equity rally driven by optimism over a deal to end the US government shutdown stalled in Asia following a report that China is developing a rare earth export system that may complicate access for some American companies.
MSCI’s regional stock gauge swung to a loss of 0.2%, while China’s key share index declined almost 1%. US equity-index futures also gave up earlier gains to trade 0.1% down, while contracts indicated European stocks were set for a tepid open. Gold trimmed its advance, while cash trading in Treasuries was closed due to the Veterans Day holiday in the US. Cryptocurrencies also dropped.
