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Asia shares down on uncertainty over US tax reform plans, sterling falls

Reuters  |  TOKYO 

By Hideyuki SanoTOKYO (Reuters) - Asian shares stepped back in cautious trade on Monday as investors look to see whether U.S. Republicans can hammer a tax reform deal quickly, while the British pound fell on growing doubts over Prime Minister Theresa May's leadership.Tokyo's benchmark Nikkei dropped 0.7 percent, bringing down MSCI's Asia-Pacific Index 0.4 percent. Excluding Japan, shares in the region were down just 0.05 percent, with mainland Chinese shares rising 0.6 percent to two-year highs.By Friday's close on Wall Street, the S&P 500 index had snapped an eight-week winning streak as ...

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First Published: Mon, November 13 2017. 08:55 IST