Asian shares steady despite US budget concerns
Asian shares steadied in quiet pre-holiday trade after a slump late last week, but markets have become more jittery about the risk of the United States failing to avert a fiscal crisis.
Activity in other assets was also subdued, with spot gold steadying as investors took to the sidelines, while oil extended losses, with US crude inching down 0.2 percent to remain below $89 a barrel while Brent futures also eased 0.2 percent to $108.78.
MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was up 0.07 percent after falling to a near two-week low on Friday when House of Representatives Speak John Boehner failed to gain support for a tax plan, raising fears the US may not be able to avert the “fiscal cliff” of automatic spending cuts and tax increases set to start January 1.
News Source: bdnews24.com