Jake Owen Welcomes a Daughter




Celebrity Baby Blog





11/22/2012 at 08:30 PM ET



Jake Owen Welcomes Daughter Olive Pearl Courtesy Jake Owen


It’s a Thanksgiving baby!


Jake Owen and his wife Lacey welcomed their first child, daughter Olive Pearl Owen, on Thursday, Nov. 22 in Nashville, Tenn., his rep confirms to PEOPLE.


Pearl, as she will be called after Owen’s late godmother, weighed in at 6 lbs., 3 oz. and is 19½ inches long.


“Lacey and I are so excited to start our own family,” Owen, 31, tells PEOPLE. “We are looking forward to teaching Pearl everything we learned from our parents and also learning from her.”


Sharing a photo of his newborn daughter on Twitter, the musician wrote, “Today is the greatest day of my life. Turkey baby!!! Happy Thanksgiving.”

It’s been a whirlwind year for Owen and his wife, 22. After getting engaged on stage in April, the couple wed on the beach in May and announced the pregnancy in July.


– Sarah Michaud with reporting by Julie Dam


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AP PHOTOS: Simple surgery heals blind Indonesians

PADANG SIDEMPUAN, Indonesia (AP) — They came from the remotest parts of Indonesia, taking crowded overnight ferries and riding for hours in cars or buses — all in the hope that a simple, and free, surgical procedure would restore their eyesight.

Many patients were elderly and needed help to reach two hospitals in Sumatra where mass eye camps were held earlier this month by Nepalese surgeon Dr. Sanduk Ruit. During eight days, more than 1,400 cataracts were removed.

The patients camped out, sleeping side-by-side on military cots, eating donated food while fire trucks supplied water for showers and toilets. Many who had given up hope of seeing again left smiling after their bandages were removed.

"I've been blind for three years, and it's really bad," said Arlita Tobing, 65, whose sight was restored after the surgery. "I worked on someone's farm, but I couldn't work anymore."

Indonesia has one of the highest rates of blindness in the world, making it a target country for Ruit who travels throughout the developing world holding free mass eye camps while training doctors to perform the simple, stitch-free procedure he pioneered. He often visits hard-to-reach remote areas where health care is scarce and patients are poor. He believes that by teaching doctors how to perform his method of cataract removal, the rate of blindness can be reduced worldwide.

Cataracts are the leading cause of blindness globally, affecting about 20 million people who mostly live in poor countries, according to the World Health Organization.

"We get only one life, and that life is very short. I am blessed by God to have this opportunity," said Ruit, who runs the Tilganga Eye Center in Katmandu, Nepal. "The most important of that is training, taking the idea to other people."

During the recent camps, Ruit trained six doctors from Indonesia, Thailand and Singapore.

Here, in images, are scenes from the mobile eye camps:

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Asia shares set for best week in 2 months as outlook improves

SINGAPORE (Reuters) - Asian shares rose on Friday and were on course for a weekly gain of more than 2.5 percent, their best in two months, after manufacturing surveys from the world's biggest economies raised hopes that the global growth outlook is improving at last.


The euro was also enjoying a positive week, despite data on Thursday pointing to the euro zone sliding into its deepest recession since 2009, with the currency standing up more than 1 percent from last Friday's close on optimism that a funding deal for debt-choked Greece will ultimately be agreed.


"Eventually they will reach a deal," said Callum Henderson, global head of FX research for Standard Chartered Bank in Singapore. "Whether they reach a deal on Monday remains questionable."


Financial bookmakers called Europe's major stock indexes to open flat or slightly higher, while S&P 500 index futures firmed 0.3 percent, suggesting small gains when Wall Street trading resumes for a shortened trading day later. <.eu><.ftse/>


MSCI's broadest index of Asia Pacific shares outside Japan <.miapj0000pus> rose 0.7 percent, with shares in South Korea <.ks11> and Hong Kong <.hsi> both rising more than 0.5 percent while Australian stocks <.axjo> were flat. <.ks><.ax><.hk/>


The MSCI index was up around 2.6 percent on the week, its best weekly performance since mid-September.


Activity generally was subdued, with Japanese financial markets closed for a holiday on Friday following the U.S. shutdown for Thanksgiving on Thursday.


Confidence in the global economic outlook was lifted on Thursday by the HSBC flash manufacturing Purchasing Managers Index (PMI) for China, which showed expansion in the factory sector accelerating for the first time in 13 months.


That followed Wednesday's report showing U.S. manufacturing grew in November at its quickest pace in five months, indicating strong economic growth in the fourth quarter, and helped sustain a rally in riskier assets such as stocks and commodities.


PMI data on the manufacturing and services sectors in Europe's two biggest economies, Germany and France, also reassured investors on Thursday by revealing that conditions had at least not worsened in November, although both economies were still contracting.


However, the PMI numbers for the wider euro zone remained extremely weak, pointing to its recession-hit economy shrinking by about 0.5 percent in the current quarter - its sharpest contraction since the first quarter of 2009.


GREEK RISKS


The euro was steady against the dollar around $1.2886, within sight of Thursday's three-week high of $1.2899.


The single currency was boosted by expectations that international lenders will soon reach a deal to release the next tranche of aid for Greece, although some market players remained cautious about the risks still posed by Europe's debt crisis.


"Greek exit (from the euro zone) is very unlikely this weekend, but I don't want to go into this weekend holding any risky positions," said RBS strategist Greg Gibbs in a note.


"In fact, while much ink has been spilled on the U.S. fiscal cliff, the bigger risk is still cracks appearing again in Europe."


The euro dipped 0.1 percent versus the yen to 106 yen, backing away from a six-and-a-half-month high of 106.585 yen set on Thursday.


The dollar eased 0.2 percent versus the yen to 82.25 yen, pulling away from Thursday's high of 82.84 yen, the dollar's strongest level since early April.


The dollar has climbed around 3.5 percent against the yen in the last two weeks, with the yen weakened by market expectations that the likely next Japanese government would push the Bank of Japan to implement more drastic monetary stimulus.


Oil dipped, with the prospect of weak demand from recession-mired Europe and the easing of supply concerns following the ceasefire in Gaza weighing on prices, although Brent crude remained up more than 1 percent on the week.


"I think what we're seeing in oil markets at the moment is a re-pricing after the ceasefire in the Gaza Strip," said Ben Le Brun, a market analyst at OptionsXpress.


Brent slipped 0.2 percent to $110.36 a barrel and U.S. benchmark crude eased a similar percentage to


$87.22.


Copper also eased 0.2 percent to just above 7,700 a tonne, but remained up more than 1 percent on the week.


Gold was flat around $1,730 an ounce.


(Additional reporting by Masayuki Kitano and Jessica Jaganathan; Editing by Eric Meijer)


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Mayim Bialik and Michael Stone Divorcing















11/21/2012 at 05:00 PM EST



After "much consideration and soul-searching," Mayim Bialik announced Wednesday that she and husband Michael Stone are divorcing after nine years of marriage.

The Big Bang Theory star, who has sons Miles, 7, and Fred, 4, with Stone, cites "irreconcilable differences" for the split, which she revealed in a statement on her Kveller.com parenting blog.

"Divorce is terribly sad, painful and incomprehensible for children. It is not something we have decided lightly," she writes.

The former star of TV's Blossom, 36, also says that the split is not due to the attachment parenting she discusses in her book Beyond the Sling. "Relationships are complicated no matter what style of parenting you choose," she says.

"The main priority for us now is to make the transition to two loving homes as smooth and painless as possible," Bialik continues. "Our sons deserve parents committed to their growth and health and that’s what we are focusing on. Our privacy has always been important and is even more so now, and we thank you in advance for respecting it as we negotiate this new terrain."

She concludes by saying, "We will be ok."

The couple were married in August 2003 in Pasadena, Calif.

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Study finds mammograms lead to unneeded treatment

Mammograms have done surprisingly little to catch deadly breast cancers before they spread, a big U.S. study finds. At the same time, more than a million women have been treated for cancers that never would have threatened their lives, researchers estimate.

Up to one-third of breast cancers, or 50,000 to 70,000 cases a year, don't need treatment, the study suggests.

It's the most detailed look yet at overtreatment of breast cancer, and it adds fresh evidence that screening is not as helpful as many women believe. Mammograms are still worthwhile, because they do catch some deadly cancers and save lives, doctors stress. And some of them disagree with conclusions the new study reached.

But it spotlights a reality that is tough for many Americans to accept: Some abnormalities that doctors call "cancer" are not a health threat or truly malignant. There is no good way to tell which ones are, so many women wind up getting treatments like surgery and chemotherapy that they don't really need.

Men have heard a similar message about PSA tests to screen for slow-growing prostate cancer, but it's relatively new to the debate over breast cancer screening.

"We're coming to learn that some cancers — many cancers, depending on the organ — weren't destined to cause death," said Dr. Barnett Kramer, a National Cancer Institute screening expert. However, "once a woman is diagnosed, it's hard to say treatment is not necessary."

He had no role in the study, which was led by Dr. H. Gilbert Welch of Dartmouth Medical School and Dr. Archie Bleyer of St. Charles Health System and Oregon Health & Science University. Results are in Thursday's New England Journal of Medicine.

Breast cancer is the leading type of cancer and cause of cancer deaths in women worldwide. Nearly 1.4 million new cases are diagnosed each year. Other countries screen less aggressively than the U.S. does. In Britain, for example, mammograms are usually offered only every three years and a recent review there found similar signs of overtreatment.

The dogma has been that screening finds cancer early, when it's most curable. But screening is only worthwhile if it finds cancers destined to cause death, and if treating them early improves survival versus treating when or if they cause symptoms.

Mammograms also are an imperfect screening tool — they often give false alarms, spurring biopsies and other tests that ultimately show no cancer was present. The new study looks at a different risk: Overdiagnosis, or finding cancer that is present but does not need treatment.

Researchers used federal surveys on mammography and cancer registry statistics from 1976 through 2008 to track how many cancers were found early, while still confined to the breast, versus later, when they had spread to lymph nodes or more widely.

The scientists assumed that the actual amount of disease — how many true cases exist — did not change or grew only a little during those three decades. Yet they found a big difference in the number and stage of cases discovered over time, as mammograms came into wide use.

Mammograms more than doubled the number of early-stage cancers detected — from 112 to 234 cases per 100,000 women. But late-stage cancers dropped just 8 percent, from 102 to 94 cases per 100,000 women.

The imbalance suggests a lot of overdiagnosis from mammograms, which now account for 60 percent of cases that are found, Bleyer said. If screening were working, there should be one less patient diagnosed with late-stage cancer for every additional patient whose cancer was found at an earlier stage, he explained.

"Instead, we're diagnosing a lot of something else — not cancer" in that early stage, Bleyer said. "And the worst cancer is still going on, just like it always was."

Researchers also looked at death rates for breast cancer, which declined 28 percent during that time in women 40 and older — the group targeted for screening. Mortality dropped even more — 41 percent — in women under 40, who presumably were not getting mammograms.

"We are left to conclude, as others have, that the good news in breast cancer — decreasing mortality — must largely be the result of improved treatment, not screening," the authors write.

The study was paid for by the study authors' universities.

"This study is important because what it really highlights is that the biology of the cancer is what we need to understand" in order to know which ones to treat and how, said Dr. Julia A. Smith, director of breast cancer screening at NYU Langone Medical Center in New York. Doctors already are debating whether DCIS, a type of early tumor confined to a milk duct, should even be called cancer, she said.

Another expert, Dr. Linda Vahdat, director of the breast cancer research program at Weill Cornell Medical College in New York, said the study's leaders made many assumptions to reach a conclusion about overdiagnosis that "may or may not be correct."

"I don't think it will change how we view screening mammography," she said.

A government-appointed task force that gives screening advice calls for mammograms every other year starting at age 50 and stopping at 75. The American Cancer Society recommends them every year starting at age 40.

Dr. Len Lichtenfeld, the cancer society's deputy chief medical officer, said the study should not be taken as "a referendum on mammography," and noted that other high-quality studies have affirmed its value. Still, he said overdiagnosis is a problem, and it's not possible to tell an individual woman whether her cancer needs treated.

"Our technology has brought us to the place where we can find a lot of cancer. Our science has to bring us to the point where we can define what treatment people really need," he said.

___

Online:

Study: http://www.nejm.org/doi/full/10.1056/NEJMoa1206809

Screening advice: http://www.uspreventiveservicestaskforce.org/uspstf/uspsbrca.htm

___

Marilynn Marchione can be followed at http://twitter.com/MMarchioneAP

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Asian shares rise on encouraging China, U.S. factory data

TOKYO (Reuters) - Asian shares rose on Thursday and European equities were expected to follow as solid manufacturing surveys in the United States and China fed optimism that the global growth slowdown may have turned a corner, while the euro was underpinned by hopes for aid for Greece.


The euro rebounded to a two-week high against the dollar of $1.28685. German Chancellor Angela Merkel revived hopes by saying an agreement to release emergency aid to Greece was still possible next Monday when euro ministers meet, after Athens' international lenders failed to reach a deal on Wednesday.


Trading volume was thinning ahead of the U.S. Thanksgiving weekend, but European shares were seen extending gains, with financial spreadbetters predicting London's FTSE 100, Paris's CAC-40 and Frankfurt's DAX to track Asian strength and open as much as 0.6 percent higher.


MSCI's broadest index of Asia-Pacific shares outside Japan built on early increases to rise 0.8 percent to a 1-1/2-week high, for a four-day winning streak.


Regional equities markets had already been buoyed by recovering risk appetite on easing tension in the Middle East and hopes that a Greece bailout will be agreed next week.


Resources-sensitive Australian shares surged 1 percent to their highest close in 10 days as miners climbed. London copper rose 0.5 percent to $7,730.50 a tonne and spot gold inched up 0.1 percent to $1,730.89 an ounce.


South Korean shares rose 0.8 percent, pulled higher as shares in Samsung Electronics Co Ltd scaled a new lifetime high of 1.419 million won ($1,300) on expectations for strong profit growth in its mobile business.


The China HSBC flash Manufacturing Purchasing Managers Index rose to a 13-month high of 50.4 in November, indicating factory activity was picking up and pointing to reviving economic growth after seven consecutive quarters of slowing. A sub-index measuring output rose to 51.3, also the highest since October 2011.


"The data suggests the China's growth had hit a bottom in the third quarter and prospects are brightening for small and medium-sized firms in China," said Naohiro Niimura, a partner at research and consulting firm Market Risk Advisory.


While the report was positive, the rise in prices of base metals, of which China is the world's top consumer, will be contained given the high level of Chinese inventories, he said.


"But shares get a boost because they are driven by sentiment and because contained base metal prices under an improving economy will help companies boost their earnings," Niimura said.


He added that as hedge funds close their books this month and next, any swing in prices should be seen as more related to their position adjustments than a change in real risk appetite.


Chinese data followed an overnight report showing U.S. manufacturing grew in November at its quickest pace in five months. A rise in domestic demand hinted that factories could provide a boost to economic growth in the fourth quarter.


"With U.S. markets closed tonight for the Thanksgiving holiday, investors' focus will be squarely on French, German and composite-European manufacturing PMIs and the kick-off of yet another EU summit," said Cameron Peacock, market strategist at IG in Melbourne.


FUNDS TARGET YEN


Japan's Nikkei stock average jumped 1.6 percent to a 6-1/2-month closing high as exporters were lifted by hopes the weakening yen would boost their earnings. Japanese financial markets will be closed on Friday for a public holiday.


The yen has come under pressure since the Japanese government announced a December 16 election last week.


The opposition Liberal Democratic Party, which is tipped to win, on Wednesday promised a big extra budget and a policy accord with the Bank of Japan on aggressive monetary stimulus to prevent the economy from sliding into recession.


The yen fell to a 7-1/2-month low versus the dollar of 82.59 on Thursday, while the Japanese currency also hit a 6-1/2-month low of 106.26 yen against the euro.


"Yen, I think, is being driven by anticipation of LDP led government forcing aggressive monetary easing," said Marc Chandler, global head of currency strategy at Brown Brothers Harriman in New York.


Japanese government bonds slipped, weighed by the jump in equities, pushing 10-year yields up 1 basis point to 0.740 percent.


Rallying stock markets boosted sentiment in Asian credit markets, tightening the spreads on the iTraxx Asia ex-Japan investment-grade index by 3 basis points.


A ceasefire between Israel and Gaza's Hamas rulers took hold on Thursday after eight days of conflict, easing concerns about supply from oil-producing Middle East.


Oil inched higher, with U.S. crude up 0.2 percent to $87.59 a barrel and Brent also up 0.2 percent to $111.06.


(Additional reporting by Dominic Lau and Lisa Twaronite in Tokyo; Editing by Kim Coghill)


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Gunman in Mumbai Attacks Is Hanged



India executed the only surviving gunman from the 2008 terrorist attack on Mumbai early Wednesday, the country’s Home Ministry said. The gunman, Muhammad Ajmal Kasab, a Pakistani citizen, was one of 10 attackers who rampaged through the streets of India’s financial capital for three days in November 2008 and killed 163 people. Mr. Kasab was hanged in secrecy at 7:30 a.m. at a jail in Pune, a city near Mumbai, after India’s president, Pranab Mukherjee, rejected his plea for mercy. Mr. Kasab and the other gunmen entered Mumbai by boat on Nov. 26, 2008. Armed with grenades and automatic weapons, the gunmen fanned out across Mumbai, targeting luxury hotels, a Jewish center and the city’s main train station. A photograph of Mr. Kasab striding through the station, an assault rifle in hand, quickly became an indelible image of the assault. India blames Lashkar-e-Taiba, a militant Pakistani organization, for orchestrating the attacks. (AP)


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The Voice: Top Eight Contestants Revealed















11/20/2012 at 10:05 PM EST







From left: Adam Levine, Cee Lo Green, Christina Aguilera, Blake Shelton and host Carson Daly


Mark Seliger/NBC


Following what Blake Shelton called the "best episode of The Voice we've ever had", spirited group performances on Tuesday night's show kept the energy up and distracted viewers just long enough from the business at hand – impending eliminations.

Christina Aguilera brought the heat with her song "Let There Be Love." Rascal Flatts shared their hit "Changed." Later, Adam Levine performed a rendition of Queen's "Crazy Little Thing Called Love," followed by the contestants taking on Pat Benatar's "Hit Me with Your Best Shot."

But once again, the decisions about who would stay and who would go were completely up to the viewers. No input from the coaches could save contestants this time. Keep reading to find out which contestants will sing again next week ...

The first round of results turned out to be good news for Nicholas David and Cassadee, later joined by Dez Duron and Cody Belew in the top eight.

America also gave Terry McDermott, Melanie Martinez, Trevin Hunte and Amanda Brown another shot at superstardom.

That means Bryan Keith and Sylvia Yacoub won't be singing again on Monday night's episode.

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OB/GYNs back over-the-counter birth control pills

WASHINGTON (AP) — No prescription or doctor's exam needed: The nation's largest group of obstetricians and gynecologists says birth control pills should be sold over the counter, like condoms.

Tuesday's surprise opinion from these gatekeepers of contraception could boost longtime efforts by women's advocates to make the pill more accessible.

But no one expects the pill to be sold without a prescription any time soon: A company would have to seek government permission first, and it's not clear if any are considering it. Plus there are big questions about what such a move would mean for many women's wallets if it were no longer covered by insurance.

Still, momentum may be building.

Already, anyone 17 or older doesn't need to see a doctor before buying the morning-after pill — a higher-dose version of regular birth control that can prevent pregnancy if taken shortly after unprotected sex. Earlier this year, the Food and Drug Administration held a meeting to gather ideas about how to sell regular oral contraceptives without a prescription, too.

Now the influential American College of Obstetricians and Gynecologists is declaring it's safe to sell the pill that way.

Wait, why would doctors who make money from women's yearly visits for a birth-control prescription advocate giving that up?

Half of the nation's pregnancies every year are unintended, a rate that hasn't changed in 20 years — and easier access to birth control pills could help, said Dr. Kavita Nanda, an OB/GYN who co-authored the opinion for the doctors group.

"It's unfortunate that in this country where we have all these contraceptive methods available, unintended pregnancy is still a major public health problem," said Nanda, a scientist with the North Carolina nonprofit FHI 360, formerly known as Family Health International.

Many women have trouble affording a doctor's visit, or getting an appointment in time when their pills are running low — which can lead to skipped doses, Nanda added.

If the pill didn't require a prescription, women could "pick it up in the middle of the night if they run out," she said. "It removes those types of barriers."

Tuesday, the FDA said it was willing to meet with any company interested in making the pill nonprescription, to discuss what if any studies would be needed.

Then there's the price question. The Obama administration's new health care law requires FDA-approved contraceptives to be available without copays for women enrolled in most workplace health plans.

If the pill were sold without a prescription, it wouldn't be covered under that provision, just as condoms aren't, said Health and Human Services spokesman Tait Sye.

ACOG's opinion, published in the journal Obstetrics & Gynecology, says any move toward making the pill nonprescription should address that cost issue. Not all women are eligible for the free birth control provision, it noted, citing a recent survey that found young women and the uninsured pay an average of $16 per month's supply.

The doctors group made clear that:

—Birth control pills are very safe. Blood clots, the main serious side effect, happen very rarely, and are a bigger threat during pregnancy and right after giving birth.

—Women can easily tell if they have risk factors, such as smoking or having a previous clot, and should avoid the pill.

—Other over-the-counter drugs are sold despite rare but serious side effects, such as stomach bleeding from aspirin and liver damage from acetaminophen.

—And there's no need for a Pap smear or pelvic exam before using birth control pills. But women should be told to continue getting check-ups as needed, or if they'd like to discuss other forms of birth control such as implantable contraceptives that do require a physician's involvement.

The group didn't address teen use of contraception. Despite protests from reproductive health specialists, current U.S. policy requires girls younger than 17 to produce a prescription for the morning-after pill, meaning pharmacists must check customers' ages. Presumably regular birth control pills would be treated the same way.

Prescription-only oral contraceptives have long been the rule in the U.S., Canada, Western Europe, Australia and a few other places, but many countries don't require a prescription.

Switching isn't a new idea. In Washington state a few years ago, a pilot project concluded that pharmacists successfully supplied women with a variety of hormonal contraceptives, including birth control pills, without a doctor's involvement. The question was how to pay for it.

Some pharmacies in parts of London have a similar project under way, and a recent report from that country's health officials concluded the program is working well enough that it should be expanded.

And in El Paso, Texas, researchers studied 500 women who regularly crossed the border into Mexico to buy birth control pills, where some U.S. brands sell over the counter for a few dollars a pack. Over nine months, the women who bought in Mexico stuck with their contraception better than another 500 women who received the pill from public clinics in El Paso, possibly because the clinic users had to wait for appointments, said Dr. Dan Grossman of the University of California, San Francisco, and the nonprofit research group Ibis Reproductive Health.

"Being able to easily get the pill when you need it makes a difference," he said.

___

Online:

OB/GYN group: http://www.acog.org

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Asian shares, euro fall on uncertainty over Greek bailout

TOKYO (Reuters) - The euro skidded on Wednesday and Asian shares fell after European officials failed to reach a deal on another bailout for Greece, a day after Federal Reserve Chairman Ben Bernanke highlighted the dangers of a U.S. fiscal crisis.


U.S. stock futures eased 0.4 percent, pointing to a weak Wall Street open.


Financial spreadbetters predict London's FTSE 100 <.ftse>, Paris's CAC-40 <.fchi> and Frankfurt's DAX <.gdaxi> would open down as much as 0.2 percent, following weakness in Asia. <.l><.eu><.n/>


The euro slumped 0.5 percent to $1.2752, extending losses and retreating from Tuesday's two-week high of $1.28295.


The euro's decline lifted the dollar up 0.3 percent against a basket of key currencies <.dxy> and weighed on commodities such as gold, which eased 0.3 percent to $1,722.70 an ounce.


Euro zone finance ministers and Greece's international lenders will gather again on Monday. Their meeting in Brussels ended on Wednesday without an agreement on the next tranche of loans to Greece, as they haggled over myriad options on how to bring the country's debt down to a sustainable level, without which emergency aid cannot be disbursed to Athens.


"The euro is being sold because markets had believed the ministers would agree on aid for Greece at today's meeting," said Yuji Saito, director of foreign exchange at Credit Agricole in Tokyo.


"Instead, a settlement is postponed, highlighting the difficulty of getting consensus on the debt crisis. But I feel this is a typical European political show and an agreement will be reached."


The bearish news from Europe dragged down Asian shares, whose two-day rise had already been stalled after Bernanke on Tuesday repeated a warning that failure to avoid the $600 billion "fiscal cliff" in expiring tax cuts and government spending reductions could lead to recession in the United States.


The Fed chief said worries over how budget negotiations will be resolved were already damaging growth.


Concerns about the United States failing to raise its debt ceiling rattled financial markets in August 2011 and prompted Standard & Poor's to cut the top-notch U.S. government bond rating for the first time ever.


"The price action suggests market participants are unclear of what to make of recent developments and therefore this warrants some caution," said Stan Shamu, strategist at IG Markets.


But Hirokazu Yuihama, a senior strategist at Daiwa Securities, said that for all the concerns over the fiscal cliff, most of the market expected the U.S. Congress and White House to reach a compromise to avert the crisis.


MSCI's broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> slipped 0.2 percent. Hong Kong <.hsi> shares bucked the falling trend but pared earlier gains to rise 0.5 percent while Shanghai shares <.ssec> inched up 0.3 percent.


Japan's Nikkei stock average <.n225> closed up 0.9 percent at a two month-high as exporters were buoyed by a weaker yen.


The yen has come under pressure on expectations that a general election on December 16 will result in victory for an opposition leader who wants the Bank of Japan to aggressively ease monetary policy to stem the economy from further deterioration. <.t/>


MACRO DATA EYED


Daiwa's Yuihama said concerns over third-quarter earnings have subsided as most Asian companies had already reported results.


"This has prompted investors to turn to economic fundamentals. Signs of recovery in the U.S. and China are offering some assurances that the global economic slump may not be as severe as previously feared, even if growth remains fragile," Yuihama said.


Investors will now focus on HSBC China flash PMI for November due on Thursday to see whether a low point for China, the world's second largest economy, is over. U.S. manufacturing figures are due later on Wednesday while those from Europe are due on Thursday.


Trading activity was slowing ahead of the U.S. Thanksgiving long weekend.


Going into the holiday, the dollar has been underpinned broadly by data indicating a moderate U.S. recovery taking root, while the yen remained under pressure, with more data showing Japan's economy struggling.


Japan's exports fell 6.5 percent in October from a year ago, dropping for a fifth consecutive month, weighed down by weakening global demand and a territorial row with China, its main customer.


In the U.S. on Tuesday, a report showed housing starts rose to the highest rate in more than four years in October.


The dollar rose to a 7-1/2-month high against the yen of 81.975 yen while the euro briefly touched a peak of 105.05 yen, its highest point since May 4.


A retreat in shares dragged oil lower, although prices remained supported by a lack of ceasefire between Israelis and Palestinians, which raised concerns about supply disruptions from the Middle East.


U.S. crude futures pared earlier gains and were up 0.1 percent to $86.85 a barrel by midafternoon, and Brent crude also trimmed earlier rises and was up 0.2 percent at $110.03.


Weak appetite for riskier assets also interest in Asian credit markets subdued, with the spreads on the iTraxx Asia ex-Japan investment-grade index tightening by 1 basis point.


(Additional reporting by Miranda Maxwell in Melbourne; Editing by Simon Cameron-Moore & Kim Coghill)


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