SINGAPORE: Asian shares slipped from 1-1/2 month highs on Tuesday as a record rate cut in China failed to excite investors, while U.S. and Europe futures fell on fading chances for early cuts there.
China's five-year loan prime rate was lowered by 25 basis points to 3.95%, bigger than the five to 15 bp cuts forecast by economists. The one-year rate was left at 3.45%. The Shanghai Composite was flat and blue chips fell 0.3%.
