Asian shares rebound but investors play it safe

HONG KONG (Reuters) – Asian shares edged higher on Thursday as recent selling pressure eased and safe-haven buying of the dollar and gold subsided, but reminders of the global economic gloom and financial sector woes kept investors cautious. Weak U.S. housing and industrial output data, along with concerns that worsening economies in central and eastern Europe could put more pressure on European banks, suggested more weakness in global markets. European shares were set to open slightly lower, with the focus on corporate earnings. French lender <BNPP.PA> posted an unexpected fourth quarter loss on Thursday and said market conditions would be tough in 2009. Policy makers and central…

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