Asia's stocks drop as deadline for U.S. budget is drawing closer

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Source: RTT News
© Scanpix/RS
Asian equities tumbled on Wednesday and were traded not far from the highest level in five months as investors hope for a deal in the U.S. federal debt limit talks between President Barack Obama and House Republicans before deadline on October 17. The MSCI Asia-Pacific Index outside Japan fell 0.2%, while Japan's Nikkei also dropped 0.2% and Australian and Honk Kong's shares stayed flat.

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Wed, 16 Oct 2013 08:35:05 GMT

U.S. Dollar rises versus Yen on debt limit hopes

The U.S. Dollar strengthened on Wednesday rising against the Japanese Yen as investors stayed optimistic about the new federal budget deal avoiding the country default before deadline on October 17. The so-called Greenback advanced 0.4% to 98.55 yen after it fell to 97.99 on yesterday's trading session, while it added 0.2% versus the Swiss Franc to 0.9144.

Wed, 16 Oct 2013 08:13:05 GMT

New York business conditions weakens in October

New York area business conditions for manufacturers slowed down in October missing original economists' expectations, the Federal Reserve Bank showed in a report on Tuesday. According to the report, the index of general business conditions dropped from 6.3 points recorded in September to 1.5 in October, while it was forecast to grow 7.0 points on the month.

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