Reuters: US Dollar Report: GLOBAL MARKETS-Asian shares steady, Basel ruling supports banks

Reuters: US Dollar Report Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

GLOBAL MARKETS-Asian shares steady, Basel ruling supports banks Jan 7th 2013, 00:45 SINGAPORE | Sun Jan 6, 2013 7:45pm EST SINGAPORE Jan 7 (Reuters) - Asian shares outside Japan edged up on Monday, supported by data showing the U.S. economy continuing on a path of slow but steady recovery that had pushed Wall Street stocks to a five-year high. Financial stocks were underpinned by a decision from global regulators on Sunday to give banks four more years and greater flexibility to build up cash buffers so they can use some of their reserves to help struggling economies grow. MSCI's broadest index of Asia Pacific shares outside Japan gained 0.1 percent, but Tokyo's Nikkei share average retreated after touching a 23-month high in early trade and last stood down 0.4 percent. The MSCI benchmark's financial sector sub-index gained 0.2 percent after the Basel Committee of banking supervisors agreed at the weekend to a relaxation of a draconian earlier draft of new global bank liquidity rules. Shares in Japanese exporters were supported by a weaker yen, which was steady around 88.17 to the dollar, after the U.S. currency rose as far as 88.40 yen, its highest in nearly two-and-a-half years, on Friday. The dollar ticked up slightly against the euro, which traded around $1.3060. The U.S. benchmark S&P 500 index closed at its highest level since December 2007 on Friday after data showed a steady pace of jobs growth and brisk expansion of the services sector in the world's biggest economy.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions