Asian equities stand still as Japan outperforms

Asian equities stand still as Japan outperforms

On Monday, Asian shares shook off a sluggish start and stabilized, with Japan outperforming on positive earnings. Meanwhile, the major US currency regained traction because the American government looked likely to avert a shutdown.

Outside Japan MSCI's broadest index of Asia-Pacific stocks stood still. Japan's Nikkei N225 gained 0.4%, with high-tech blue chips benefiting from strong earnings.

In Europe and Asia many financial markets are unviable for Labour Day.

Asian stocks took their cue from Wall Street that went down on Friday after data revealed that the American economy inched up at its weakest pace for three years in the first quarter.

The mood brightened moderately, although on news that American congressional negotiators came to a bipartisan agreement on a spending package for the purpose of keeping the federal government funded through September 30, thus preventing a government shutdown.

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