Asian equities take a time out

Asian equities take a time out

On Tuesday, Asian equities took a tiny step back after three straight trading winning sessions, with financial markets consolidating hoping that an upswing in global surge could outlast a probable hike in American borrowing costs this week.

The latest upbeat news arose from China where in November financial institutions doled out a shockingly generous dose of credit that could bode well for a pick up in industrial output and retail sales due later in the week.

MSCI's index of Asia-Pacific equities outside Japan drifted off 0.3%, having bounced 2% for the last three trading sessions.

Wall Street had been driven by energy and technology equities, with Apple Inc making the greatest contribution. The Dow edged up 0.23%, the S&P 500 gained 0.32%, the Nasdaq leapt 0.51%.

On Wednesday, the Fed is expected to conclude its two-day gathering, while the ECB meets on Thursday.

The common currency has gained 12% on the greenback this year.

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