Asia shares tick up, dollar unchanged

Asia shares tick up, dollar unchanged

Shanghai: Japan’s Nikkei share index rises 0.7% as investors pick up bargains after recent price falls, but volume is low on absence of foreign buyers.

MSCI Asia share index excluding Japan also up 0.7%.

Euro trades around resistance level of $1.3175, though economists expect the currency to head towards $1.25 by the end of the year, as worries about high debt levels inside the single currency zone persist.

Dollar little changed versus the yen at ¥83.64. No policy change is expected at the Bank of Japan’s two-day policy meeting that ends on Tuesday.

Spot gold trades around $1,387 per ounce, slighty down from Monday’s dealing, and well below the historical high of $1,430 it hit earlier in December.

US crude oil rises around 20 cents to $89.62 per barrel, supported by cold weather in Europe and the United States.