Asian shares trimmed earlier gains in choppy trade on Wednesday, with worries over contagion from Spain's banking sector heightening after the country's bond yields hit record peaks.
MSCI's broadest index of Asia-Pacific shares outside Japan <.MIAPJ0000PUS> inched up 0.1 percent to 396.76, after earlier climbing as much as 0.4 percent.
The index has since Monday held above its 21-day moving average, a short-term technical level closely followed by hedge funds and investment banks. But it faces firm resistance at 401.50, where rebound attempts failed twice in late May.
Australian shares <.AXJO> reversed course to fall 0.5 percent, leading declines in Asia.
"I'm not even thinking about upside at the moment. It's more a case of switching ... out of riskier stocks into more defensive names," said Phillip Weinberg, a dealer at Karara Capital in Melbourne.
Gold price is still not stabilized in India like everywhere else. After going down, the g
Gold price opens lower in Hong Kong
The gold price in Hong Kong went down 180 HK dollars to open at 12,720 HK dollars per tael on Thursday, according to the Chinese Gold and Silver Exchange Society.
The price is equivalent
Market Cap Indices Turn Red at Qatar Exchange
The QE index spending almost the entire session below the break even line witnessed a bearish trend on Thursday 23rd May 2013. The index dropping 37.28 points or 0.41 percent reached at 9,048.62 leve
Small Cap and Large Cap Push ADX Index Lower
The ADX General Index sustained its downward march and finished the session with a decline of 1.23 percent on Thursday 23rd May 2013 . The index dropped 43.02 points, closing at 3,460.36.
M
WEF to focus on challenges
Leaders from the Middle East and North Africa in business, economics and politics will focus on the aftermath of the Arab Spring as they gather for the World Economic Forum in Jordan this weekend.