Tokyo — Asian shares stepped back from more than two-year highs on Tuesday and the dollar extended losses as passage of a US healthcare bill grew doubtful, and as investors bet the Federal Reserve will be more cautious about raising interest rates. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.1%, a day after scaling its loftiest levels since April 2015. Republican senators Jerry Moran and Mike Lee announced their opposition on Monday to legislation to dismantle and replace the Affordable Care Act, commonly known as Obamacare, leaving it without enough votes to pass. US S&P stock futures edged down slightly after the news, but then steadied and were flat on the day. Wall Street ended little changed on Monday in low-volume trading, as investors braced for a flood of second-quarter earnings reports later this week. The dollar, already down in early trade, extended losses. It slipped 0.4% on the day to ¥112.21, well below its nearly four-month high of ¥114.495 t...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.