April 23, 2018, 7:44 am
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Asian shares, dollar steady

TOKYO- Asian shares edged higher on Tuesday, approaching record highs after the S&P 500 extended its winning streak, while the dollar steadied against its major counterparts.

MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.1 percent at 590.23, not far from its record peak of 591.50 scaled in November 2007.

On Wall Street on Monday, the Dow Jones Industrial Average edged down 0.05 percent, the S&P 500 gained 0.17 percent, and the Nasdaq Composite added 0.29 percent. After the best start to a year in more than a decade, investors turned cautious ahead of earnings.

Japan’s Nikkei stock index rose 0.8 percent to its highest levels since November 1991, catching up to the previous session’s gains as markets reopened after a holiday on Monday.

The dollar index, which tracks the greenback against a basket of six major rival currencies, was steady on the day at 93.348.

The euro was steady at $1.1967 not far from its nearly four-month high of $1.2089 set on Thursday.

Against the yen, the dollar edged up 0.1 percent to 113.14.

Underpinning the dollar, investors bet on further US interest rate hikes after Friday’s payrolls data did nothing to challenge the outlook for monetary policy tightening by the US Federal Reserve. While job growth slowed more than expected, a pickup in monthly wages pointed to labor market strength. - Reuters
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