Asian shares ease after recent gain, dollar up vs yen
Nike Denver Broncos jersey Asian shares eased on Monday, taking a break after investor risk appetite had risen on hopes Europe's policymakers returning from holiday will decisively tackle the euro zone's debt crisis.
MSCI's broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> edged down 0.2 percent. On Friday, a record high for Apple Inc (AAPL.O) shares boosted U.S. stocks while traders eyed a breakout to a new four-year peak on the Standard & Poor's 500 Index (.SPX).
European shares also closed at 13-month highs on Friday for their best week in seven years on hopes European policymakers will take concerted action to solve the region's fiscal woes.
Japan's Nikkei stock average (.N225) opened up 0.4 percent after rising to a three-month high on Friday. (.T)
"The market is gaining ground on a much more solid footing compared to the first-quarter liquidity rally and the relative stability offers more room for further, Nike 2012 USA Basketball Deron Williams jersey sustainable gains," Tong Yang Securities in a note to clients.
In a sign of easing investor fears, the CBOE VIX volatility index (.VIX), which measures expected volatility in the Standard & Poor's 500 index (.SPX) over the next 30 days, plumbed a five-year low on Friday.
Recovery in risk appetite hurt commodity-linked currencies.
The Australian dollar traded at $1.0432, off its lowest since late July of $1.0411 hit on Friday but sharply below a near five-month high around $1.06 touched earlier this month. It slid to a three-week low against the euro.
The dollar rose to a fresh five-week high against the yen at 79.585 yen on Monday.
Data showed on Friday that currency speculators pared bets in favor of the U.S. dollar in the latest week to the lowest since November 2011.
Asian credit markets were calm, nhl 2012 all star jersey with the spread on the iTraxx Asia ex-Japan investment-grade index barely changed.
EUROPE RESUMES BUSINESS
While markets anticipate some conclusive action to calm the euro zone's troubled bond markets to be announced at the European Central Bank's policy meeting next month, the focus this week is on a meeting between leaders of Greece and Germany on Friday.
Senior German politicians already stepped up the pressure on Greece to stick to its reforms, and made clear that there was no appetite in the German parliament for a third aid package.
Recent polls by Reuters showed that successive debt bombshells from Greece have so far failed to blow apart the political bonds that hold it in the euro zone, persuading growing numbers of economists to conclude that the country has a future inside the currency union.
Los Angeles Clippers jersey The ECB could outline details of its debt-buying program at its September 6 meeting to ease pains for Spain, and its economy minister Luis de Guindos said the ECB must take forceful and unlimited steps to buy sovereign debt to help Madrid cut its refinancing costs and remove doubts over the euro zone's future.
He said the government will study the details of the ECB's debt-buying program before making a decision on applying for more European aid.
Germany's weekly Spiegel magazine reported on Sunday the ECB is considering setting yield thresholds for any purchases of a struggling euro zone country's bonds.
Sentiment was also supported by a survey published on Friday showing U.S. consumer confidence rose in early August to its highest level in three months, and an improvement in July in the Conference Board's gauge of future U.S. economic activity.
With recent solid U.S. data raising uncertainty over whether the Federal Reserve would take further easing steps, Club Soccer jersey and hopes in Europe spurred investors to shift less money into bond funds worldwide last week, fund-tracker EPFR Global said on Friday.
