* Asian stock markets: https://tmsnrt.rs/2zpUAr4
* Push for Trump impeachment increases political risk
* Asian stocks track Wall Street lower
* Oil falls on worries about global economy
By Stanley White
TOKYO, Sept 25 (Reuters) - Asian stocks fell on Wednesday
after U.S. lawmakers called for an impeachment inquiry into
President Donald Trump, increasing the prospects of prolonged
political uncertainty in the world's largest economy.
The dramatic move by House of Representatives Democrats
compounded investors' anxieties with confidence already shaken
by new worries about U.S.-China trade negotiations.
MSCI's broadest index of Asia-Pacific shares outside Japan
.MIAPJ0000PUS was down 0.82%, Japan's Nikkei .N225 fell
0.63%, while Australian shares .AXJO fell 0.60%.
Chinese shares slumped and oil futures extended declines
after Trump harshly criticised Beijing's trade practices in a
speech at the United Nations, damping hopes for a resolution to
the U.S.-China trade war.
The dollar nursed losses against most major currencies as
the inquiry sets the stage for a fierce battle between Democrats
and Trump's Republican Party over whether the president sought
foreign influence to smear a political rival.
"The impeachment probe has put a dent in Asian shares," said
Kiyoshi Ishigane, chief fund manager at Mitsubishi UFJ Kokusai
Asset Management Co in Tokyo.
"Chinese shares were already exposed to downside risks.
Trump's comments likely increased those risks. There are worries
about U.S. consumer sentiment. There are also concerns that
China's economic slowdown hasn't stopped."
U.S. stock futures, ESc1 , rose 0.06% in Asia on Wednesday,
but the mild gains are unlikely to improve sentiment for Asian
shares.
The push for an impeachment inquiry and disappointing U.S.
economic data weighed on Wall Street on Tuesday, pushing the S&P
500 .SPX 0.84% lower, its biggest daily decline in a month.
The U.S. House of Representatives will launch a formal
impeachment inquiry over whether Trump sought help from the
Ukraine to smear former Vice President Joe Biden, a front-runner
for the 2020 Democratic presidential nomination. Trump has
denied the claims. It is unlikely that the impeachment inquiry would lead to
Trump's removal from office. Even if the Democratic-controlled
House voted to impeach Trump, the Republican-majority Senate
would have to take the next step of removing him from office
after a trial. However, the development injects fresh uncertainty into
financial markets, which have already been heavily jostled by
emerging global political risks in recent years.
"If an impeachment enquiry looks like ending his re-election
chances in 2020, he may throw caution to the wind and harden his
attitude to a China trade deal, increasing the chances of a
global recession next year," said Jeffrey Halley, Senior Market
Analyst, Asia Pacific, OANDA.
The dollar index .DXY measuring the greenback against a
basket of six major currencies was little changed after falling
0.3% on Tuesday.
Chinese shares .CSI300 fell 0.79% while shares in Hong
Kong .HSI skidded by 1.23%
Trump said on Tuesday Beijing had failed to keep promises it
made when China joined the World Trade Organization in 2001 and
was engaging in predatory practices that had cost millions of
jobs in the United States and other countries. U.S. crude CLc1 dipped 0.75% to $56.86 a barrel. Brent
crude LCOc1 fell 0.86% to $62.55 per barrel.
The U.S.-China trade war, which has dragged on for more than
a year, has added pressure on China's already slowing economy
and has increased the risk of recession in other countries.
Slower global growth would hurt demand for energy and other
commodities.
Sterling traded at $1.2473 GBP=D3 , down 0.2%, having
trimmed some of its overnight gains made following the UK court
ruling.
In response to the UK Supreme Court's decision, Johnson said
he disagreed and vowed that Britain would leave the EU by Oct.
31 deadline, come what may.
Calls for Johnson's resignation could grow, which would cast
even more uncertainty over how the UK would complete its divorce
from the EU. The yield on benchmark 10-year Treasury notes US10YT=RR
rose to 1.6352%, while the two-year yield US2YT=RR rose to
1.6096%.