Asian shares slipped on Friday, erasing early gains, while gold shone and oil pr...
SHANGHAI - Asian shares slipped on Friday, erasing early gains, while gold shone and oil prices spiked after U.S. air strikes in Iraq killed a top Iranian commander, heightening geopolitical tensions.
MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS had touched its highest point since June 15, 2018 in early trade, but fell after reports of the air strike emerged. It was last down 0.16%. “It remains very unclear exactly what impact could have on the equity market,” said Tapas Strickland, director of economics and markets at National Australia Bank.
It had been lifted by a New Year’s Day announcement from China’s central bank that it would cut the amount of cash that banks must hold as reserves, releasing around 800 billion yuan .
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