TOKYO (Reuters) – Asian shares eked out meager gains on Wednesday, as higher Wall Street futures provided some relief for investors after an overnight U.S. selloff, though deeper worries about the global economy are likely to keep a lid on sentiment.
MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was down 0.03%, Japan’s Nikkei .N225 rose 0.04% and Australia’s shares rose 0.07%.
The U.S. yield curve inversion deepened on Tuesday to levels not seen since 2007, which sent Wall Street stocks lower. The S&P 500 .SPX fell 0.33%.
Gold, which is bought as a safe haven during times of economic uncertainty, traded close to a six-year high.
“Bonds are rallying and there is limited upside for stocks right now,” said Kiyoshi Ishigane, chief fund manager at Mitsubishi UFJ Kokusai Asset Management Co in Tokyo.
“But I don’t want to give up on equities just yet. The U.S. Federal Reserve and officials in other countries simply have to do more to stimulate their…
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