Global markets: Weak Europe weighs on markets, yen jittery before G20
The MSCI's broadest index of Asia-Pacific shares outside Japan was trading in a wafer-thin range, rising 0.1 percent after falling 0.1 percent earlier in the session.
The index was set for a weekly gain of 1.3 percent, however, for its best such performance since the week to Jan. 6, when it was underpinned by an improving global growth outlook for this year and receding risks from the euro zone debt crisis.
Stocks in the Philippines and Indonesia hovered near records hit the day before.
Australian and South Korea shares consolidated from recent strong rise. Australian shares steadied after touching a 4-1/2 year high on Thursday, compounded by the weak euro zone data and a $3 billion annual loss from global miner Rio Tinto Ltd. South Korean shares steadied after closing on Thursday at a fresh three-week high as the yen firmed.
The Nikkei stock average fell 0.9 percent.
Markets in China and Taiwan remained shut for the Lunar New Year holiday.
Investors kept an eye out for potential fallout from the sliding yen at the G20 meeting on Friday and Saturday in Moscow.
The yen traded in narrow ranges against other major currencies as investors cut back yen short positions as speculation grew that Japan might be singled out because of the yen's steady drop over the past three months.
"Investors are sitting on the fence after
Be the first to comment.