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Overnight Markets: US stocks decline as budget stalemate continues
by Himanshu Singh on Oct 08, 2013 at 03:38
In Asia, stocks erased early losses on Tuesday in late morning trade as utilities and industrial shares climbed. Shares had declined earlier as US lawmakers remained at odds over lifting the debt ceiling to avoid a default.
The MSCI Asia Pacific Index was little changed at 138 as of 11:48 a.m. in Tokyo after falling as much as 0.3%. Japan’s Nikkei Stock Average 225 was down 0.07%, Hong Kong’s Hang Seng Index gained 0.37% and Australia’s ASX All Ordinaries Index was trading 0.51% lower. In Korea, KOSPI Index fell 0.43%, while Singapore’s Straits Times Index added 0.18%. In China, Shanghai Composite Index added 0.25%.
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