SINGAPORE: Asian stocks were steady in early trade on Tuesday, May 24 but ran the risk of resuming a decline after the prior session's selloff, with fears about the euro zone's worsening debt problems and volatile commodity prices keeping investors nimble.
MSCI's index of Asia-Pacific stocks outside Japan was up 0.01 percent while Japan's benchmark Nikkei fell 0.3 percent to 9,436.48. The index is now in negative territory for the year, underperforming the MSCI all-country world stocks index .
The euro was under pressure in Asian markets, slipping about 0.25 percent to $1.4012 as it edged closer to a two-month trough of $1.3968 hit on Monday.
The dollar staged a broad recovery to hit an eight-week high against the pound and edged closer to a 10-week high versus the euro.
Gold rose to its highest level in almost two weeks on worries that Europe's debt crisis was spreading, sending euro-denominated bullion to a record above 1,081 euros an ounce.
Spot gold added $1.24 an ounce to $1,517.29 an ounce by 0032 GMT, having hit an intraday high at $1,517.74 an ounce, its strongest since May 11.
U.S. crude oil fell by $1.05 to $96.65 per barrel in early Asian trade on a stronger dollar due to renewed concerns over euro zone debt. - Reuters
MSCI's index of Asia-Pacific stocks outside Japan was up 0.01 percent while Japan's benchmark Nikkei fell 0.3 percent to 9,436.48. The index is now in negative territory for the year, underperforming the MSCI all-country world stocks index .
The euro was under pressure in Asian markets, slipping about 0.25 percent to $1.4012 as it edged closer to a two-month trough of $1.3968 hit on Monday.
The dollar staged a broad recovery to hit an eight-week high against the pound and edged closer to a 10-week high versus the euro.
Gold rose to its highest level in almost two weeks on worries that Europe's debt crisis was spreading, sending euro-denominated bullion to a record above 1,081 euros an ounce.
Spot gold added $1.24 an ounce to $1,517.29 an ounce by 0032 GMT, having hit an intraday high at $1,517.74 an ounce, its strongest since May 11.
U.S. crude oil fell by $1.05 to $96.65 per barrel in early Asian trade on a stronger dollar due to renewed concerns over euro zone debt. - Reuters
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