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Asian shares outside Japan decline

Asian shares outside Japan decline

In Asia, shares outside Japan fell on Tuesday in morning trade as momentum from prior gains faded after investors were left short of cues with the US markets closed on Monday.

The MSCI Asia Pacific Excluding Japan Index dropped 0.4% to 511 as of 9:45 a.m. in Hong Kong. South Korea’s Kospi index and Taiwan’s Taiex index lost 0.6%.

New Zealand’s NZX 50 Index slid 0.1%. Hong Kong’s Hang Seng Index dropped 0.4%. China’s Shanghai Composite Index and Singapore’s Straits Times Index both gained 0.1%.

Australia’s S&P/ASX 200 Index added 0.1% before a cash-rate decision at which the central bank is expected to maintain record-low borrowing costs.

Japan’s Topix jumped 1%, heading for its highest close since 22 January. The yen touched 104.71 per dollar.

In geopolitical news, Ukraine warned of an escalating conflict in its easternmost regions as a rebel leader said talks this week may include negotiations for a truce.

Hyundai Motor Co. fell 2.4% after South Korea’s biggest carmaker reported lower sales for August.

Samsung Electronics Co., the world’s largest smartphone maker, headed for a two-year low. Nintendo Co., a maker of gaming consoles that gets most its sales outside Japan, gained 2.2%.

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