Asian shares consolidate, dollar faces profit taking
Posted 7:11 PM by Ambalal Solanki in Labels: asian shares, finance, global markets, market, market news, rallyAsian shares steadied on Friday and the dollar took breather after its recent broad rally spurred some profit taking, but fresh batch of data suggesting the US economy may be picking up momentum underpinned investor sentiment.
The MSCI Asia Pacific ex-Japan index was barely changed and Japan's Nikkei opened down 0.1 per cent after rising to an 8-month high on Thursday.
The Standard & Poor's 500 index on Thursday closed above 1,400 for the first time since June 2008, having risen about 11.5 per cent this year without a major pullback. Some analysts have called for a consolidation while others see ongoing momentum.
The MSCI Asia Pacific ex-Japan index was barely changed and Japan's Nikkei opened down 0.1 per cent after rising to an 8-month high on Thursday.
The Standard & Poor's 500 index on Thursday closed above 1,400 for the first time since June 2008, having risen about 11.5 per cent this year without a major pullback. Some analysts have called for a consolidation while others see ongoing momentum.
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