Asian shares were mostly flat on Tuesday as investors stayed cautious ahead of a possible US government shutdown.HSI slipped 0.11% or 29 points reaching 26,593. South Korea’s Kospi also shed 0.06% or 1 point, trading at 3,429 at 10:45 AM IST.Meanwhile, Japan’s Nikkei gained 0.01% or 5 points to 45,049. Shanghai and Shenzhen also traded in green, adding 0.4% and 0.3% respectively.The US federal government faces a budget deadline that could trigger a shutdown. While previous shutdowns have had limited impact, a prolonged stalemate between Democrats and Republicans could delay key economic data, including jobs and inflation reports.Markets in the US were stronger on Monday, with tech stocks rebounding. Gold continued its rally, surpassing $3,850 per ounce amid rate cut expectations, inflation worries, and high global government debt.US crude fell 45 cents to $63.00 a barrel, Brent slipped 51 cents to $66.58. The dollar weakened slightly to 148.54 yen, and the euro fell to $1.1725.In corporate news, Zijin Gold International, the international spin-off of China’s largest miner Zijin Mining Group, made a strong debut in Hong Kong. The stock soared as much as 66% in early trading, following an initial public offering that raised over $3 billion, boosted by rising demand for gold.Meanwhile, oil prices continued to slide after Monday’s 3% drop, driven by concerns over a supply glut and speculation that OPEC+ may increase output in November.
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