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* Asian shares weaker for second consecutive day
* Futures trading point to flat US opening
* Fresh lockdown worries, stimulus delay spook investors
By Scott Murdoch and Sumeet Chatterjee
HONG KONG/NEW YORK, Sept 22 (Reuters) - Asian shares were
broadly weaker Tuesday as possible delays in expanded U.S.
stimulus and concerns about fresh pandemic lockdowns in Europe
dented the recent positive sentiment towards global equity
markets.
Hong Kong shares of HSBC and Standard Chartered
weakened a further 2%, as global banking stocks
remained under intense pressure on reports about financial
institutions allegedly moving illicit funds.
British lenders HSBC and StanChart were among global lenders
named as having transferred more than $2 trillion in suspect
funds over nearly two decades.
MSCI's broadest index of Asia-Pacific shares outside Japan
was down 0.68%.
"Markets globally have run hard on the weight of huge
liquidity, so it's not surprising to see a pullback in some
valuations," said James Rosenberg, an EL&C Baillieu advisor in
Sydney.
"Add in uncertainty with US elections and another COVID wave
in Europe ... it unsettles investors."
Australia's S&P/ASX 200 dropped 0.5% pressured by
miners and energy stocks, Hong Kong's Hang Seng index was
down 0.47%.
"A lot of investors felt the market had got ahead of itself
given the long list of things to worry about," said Ord Minnett
advisor John Milroy.
A burst of positive sentiment emerged briefly in China as
the blue-chip index traded higher but the market then
again slipped into negative territory.
Japanese markets were closed for a public holiday.
Early trading indicated further selling pressure on Wall
Street on Tuesday, with S&P 500 futures down 0.18% in
early Asia and Nasdaq 100 futures off 0.29%.
"We can't see any positive news on the horizon in the
near-term for the markets to rebound," said Steven Leung,
executive director for institutional sales at Hong Kong
brokerage UOB Kay Hian.
Overnight on Wall Street, the Dow Jones Industrial Average
fell 1.84%, the S&P 500 lost 1.16%, and the Nasdaq
Composite dropped 0.13%.
U.S. stocks have tumbled over the past three weeks as
investors dumped heavyweight technology-related shares following
a stunning rally that lifted the S&P 500 and the Nasdaq to new
highs.
JPMorgan Chase & Co and Bank of New York Mellon Corp
fell 3.1% and 4.0%, respectively, on Monday.
The coronavirus also remains front and centre of investor
concerns.
New pandemic measures in the UK set off declines in airline,
hotel and cruise companies in both European and U.S. markets,
spurring fears about further restrictions.
The Telegraph newspaper reported Prime Minister Boris
Johnson will encourage Britons on Tuesday to go back to working
from home. Any fresh coronavirus restrictions would threaten a
nascent recovery and further pressure equity markets.
Concerns are also growing about a delay in stimulus measures
after the U.S. Congress has remained deadlocked for weeks over
the size and shape of another coronavirus-response bill, on top
of the roughly $3 trillion already enacted into law.
The death of U.S. Supreme Court Justice Ruth Bader Ginsburg
appeared to make the passage of another stimulus package in
Congress less likely before the Nov. 3 presidential election,
sparking large declines in the healthcare sector.
U.S. President Donald Trump said he would put forward his
nominee on Friday or Saturday and called upon the Senate,
controlled by his fellow Republicans, to vote on confirmation
ahead of the election.
The dollar held on to sharp gains made on Tuesday, with
moves in Asia modest owing to a public holiday in Japan. The
euro was steady at $1.1764 and the yen, which backed off
a six-month high as the dollar gained, crept higher to 104.51
per dollar.
The Australian dollar slipped a fraction to $0.7221
after a senior central banker flagged the prospect of policy
options including currency market intervention and negative
interest rates to support the economy.
Gold fell against the rising dollar, and last traded at
$1,908.76 per ounce.
In oil markets, U.S. crude rose 0.48% to $39.5 per
barrel while Brent gained 0.36% to $41.59.
(Reporting by Suzanne Barlyn, Sumeet Chatterjee and Scott
Murdoch; Editing by Sam Holmes, Shri Navaratnam & Simon
Cameron-Moore)
