Asian shares inch down in early trade Friday from recent highs


TOKYO: An index of Asian shares pulled away from a three-year high on Friday after a mostly flat day on Wall Street, though a fresh S&P closing record and upbeat US employment data underpinned sentiment.

A separate report showed new home sales dropped 8.1% in June, their biggest decline since July of last year. But economists noted that other data have pointed to housing getting back on track after stalling late last year.

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