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Asian shares higher as Syria action set for delay

  • Asian shares mostly rise as divisions in the U.S. and U.K. look likely to have delayed military intervention in Syria, which, says Guillaume Dumans of research firm 2Bremans, "is prompting a number of investors to bet on a rebound."
  • Emerging markets that have been hit badly recently are enjoying some respite, although other factors are in play as well, such as the RBI selling dollars to Indian oil companies, a move that has boosted the rupee.
  • Meanwhile, gold and oil, which rose because of the tension, are lower. Gold is -0.7% and oil -0.8%.
  • However, fears that any action, if and when it does come, could cause a wider conflagration, is keeping markets on edge. Iran has already threatened to attack Israel if Syria is hit.
  • Japan +0.9%, Hong Kong +0.8%, China -0.2%, India +2%, Indonesia +1.8%, Malaysia +1%, Thailand +1.1%.
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