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Asian Shares Decline Amid Ongoing US Govt Budget Impasse

By: MT Newswires
Posted: 10/4/2013 12:20:00 PM
Referenced Stocks: CHA;CHL;CHU

Asian stocks declined as the ongoing U.S. government shutdown is leading to worries about wrangling over the debt ceiling.

The government will run out of borrowing authority Oct. 17, according to the Treasury, leaving only cash to pay the bills.

Around the region, the Bank of Japan left monetary policy unchanged, as expected. BoJ revised up its view on capital expenditure and said the economy was recovering modestly.

In ADR news, China Mobile Ltd. ( CHL ) dipped on reports that China's telecommunications regulator may cut interconnection fees paid to CHL by China Telecom Corp. ( CHA ) and China Unicom Hong Kong Ltd. ( CHU ).

China markets remain closed for holiday until Oct 8.

The Nikkei ended at a one-month low, down 0.94% at 14024.31. The Hang Seng was down 0.33% at 23,138.54 and Australia down 0.51% at 5,208.00.