Asian shares and euro ease

December 23rd, 2011 by James

Fitch issues warning again to U.S.On Thursday, Asian shares fell and the single currency, euro, struggled as doubts remained over how much of the funds that banks raised from an inaugural long-term European Central Bank tender would actually flow into struggling euro zone economies and help restore confidence.

MSCI’s broadest index of Asia Pacific shares outside Japan .MIAPJ0000PUS fell 0.7 percent and Tokyo’s Nikkei stock average .N225 ended down 0.8 percent.

The euro was virtually unchanged around $1.3043 after reaching a one-week high near $1.32 on Wednesday.

“The ECB‘s funding operation is not a fundamental fix to the euro zone’s debt problems and is only a way to buying time, so flight-to-safety bids remain firmly in place,” said Shinsuke Kanabu, general manager at Central Tanshi, a Japanese money brokerage.

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