Asian shares steady after China data, "fiscal cliff" weighs

TOKYO - Asian shares steadied on Friday as a pick-up in China's manufacturing sector calmed investor sentiment, but gains were capped by concerns that U.S. lawmakers are still too far apart to avert a fiscal crisis as an end-of-year deadline looms.

A deteriorating business sentiment survey and expectations that the Bank of Japan will ease policy further to support the weak economy next week continued to undermine the yen, helping Japanese equities pare much of their earlier losses.