TOKYO - Asian shares got off to a wobbly start on Tuesday, while gold prices steadied after plunging more than 4 percent to five-year lows in the previous session.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS opened flat, and was struggling to gain in early trade.
Japan's Nikkei share index .N225 rose 0.5 percent as markets reopened after a public holiday on Monday.
Spot gold XAU= edged up about 0.2 percent on the day to $1,099.05 an ounce, after what traders described as a mini flash crash in the previous session.
The rout caused concern on Wall Street and kept U.S. share gains in check, though all three major indexes logged modest rises and the Nasdaq Composite .IXIC still managed to mark its third straight record close. The S&P 500 .SPX ended less than 3 points from its record close on May 21.
"The decline in gold prices is consistent with the drop in the VIX and the rise in equities that took the Nasdaq to a record high," Kathy Lien, managing director at BK Asset Management said in a note to clients.
"It signals to FX traders that there is a sense of calm in the markets," she said.
Part of that calm is due to a more stable situation in Greece, where banks reopened as Athens began the process of paying off billions of euros owed to international creditors after it agreed to a new reform plan in exchange for another bailout to keep it in the euro zone.
The dollar jumped to its highest since April 23 against a basket of major currencies .DXY on Monday, before paring gains and ending flat.
The euro edged up about 0.1 percent on the day to $1.0833 EUR=EBS, after dipping to its lowest since mid-April overnight.
The dollar was steady against the yen at 124.295 JPY=EBS after scaling a 4-1/2-week peak of 124.390 yen on Monday.
Underpinning the greenback, St. Louis Fed President James Bullard told Fox Business Network that there was a better than 50 percent chance that the U.S. central bank will raise interest rates in September.
In other commodities trading, crude oil futures continued to slip, pressured by the strengthening dollar and concerns about a supply glut.
U.S. August crude CLc1, set to expire later on Tuesday, was down about 0.2 percent in early trade at $50.07 a barrel. On Monday, it tumbled below $50 for the first time since April. -Reuters
About 92 News HD Live Main TV Channel of Pakistan:
92 News (also known as 92 News HD Plus (Channel 92) is a conservative Urdu language TV channel based in Lahore, Pakistan.
Mian Muhammad Hanif is the chairman of the channel.
This TV channel is a subsidiary of Madinah Group under Galaxy Media Group.
The channel's name, 92, is to celebrate the 1992 Cricket World Cup won by Pakistan. The number 92 is also the telephone country calling code of Pakistan, which is another major reason behind the channel's name.
92 News HD is Pakistan’s first HD Plus News Channel. Aims to bring credible & responsible News & important stories from Pakistan & around the World
We bring you Latest Pakistani and International News at 92 News Hd Plus to Read and Watch
We believe in genuine and true journalism, we do not prevail sensation just for ratings.
We do not hide news but never tend to add any unethical content or angling that goes against the norms of our religion Islam and Pakistan's culture.
تازہ ترین خبریں حاصل کرنے کے لیے فوری اطلاع کی اجازت دیں
آپ کسی بھی وقت دائیں طرف نیچے بیل آئیکن پر صرف ایک کلک کے ذریعے آسانی سے سبسکرائب کر سکتے ہیں۔