(MENAFN– ecpulse)
Asian shares started this week with losses in early trades, as lawmakers in the U.S. still couldn`t reach a decision on resolving the government shutdown as the deadline to raising the nation`s debit ceiling nears.
Fears increased in the market, especially after the Treasury Secretary Jacob J. Lew said Congress should pass a debit limit increase by October 17 or the U.S. will be "dangerously low" on cash.
The MSCI Asia Pacific Index dropped 0.7 percent to 138.19 as of 10:54 A.M in Tokyo. The regional gauge fell 1.2 percent last week, recording the first weekly drop in more than a month.
The situation in equity markets may remain gloomy, if lawmakers in the United Stated couldn`t decide raising the $16.7 trillion borrowing limit later this month, a more critical concern to markets than the government shutdown.
Japan`s Topix Index fell 0.9 percent, while South Korea`s Kospi rose 0.1 percent. New Zealand`s NZX 50 Index climbed 0.2 percent, and the Australian S&P/ASX 200 Index slid 0.7 percent on trading volume around 62 percent below the 30-day average.
Hong Kong`s Hang Seng Index dropped 0.9 percent, while Singapore`s Straits Times Index fell 0.1 percent and Taiwan`s Taiex Index lost 0.2 percent.
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