Shares in Asia inched higher and safe-haven assets gave up some overnight gains ...
SHANGHAI - Shares in Asia inched higher and safe-haven assets gave up some overnight gains on Tuesday, as investors paused for breath after a volatile Wall Street session, but deeper concerns about growth have capped broader improvements in risk sentiment.
Most equity markets in the region shook off Wall Street’s overnight weakness, which took the Nasdaq into correction territory. In early trade, MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.17%. Australian shares were up 0.24% ahead of the expected interest rate cut by the Reserve Bank of Australia, as the bank hopes to revive growth.On Monday, the Nasdaq fell 1.61% to 7,333.02, taking it more than 10% lower than its May 3 closing record, as fears that U.S. antitrust regulators could target Alphabet, Facebook and Amazon.com dragged down shares in those companies.
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