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Overnight Markets: US stocks decline on Fed minutes
by Himanshu Singh on Jan 04, 2013 at 03:38
UnitedHealth Group Inc. sank 4.7% after the biggest U.S. health insurer was cut to hold from buy at Deutsche Bank AG.
In Asia, stocks outside Japan declined on Friday after the Fed minutes showed policy makers signalling they will probably end their $85 billion monthly bond-purchase programme sometime this year. Japanese equities surged as markets reopened today.
The MSCI Asia Pacific Excluding Japan Index declined 0.5% to 476 as of 10:04 a.m. in Hong Kong. Japan’s Nikkei 225 Stock Average gained 2.7% on its first trading day of 2013. Hong Kong’s Hang Seng Index lost 0.5%. China’s Shanghai Composite gained 0.8% on the first trading day of the new year.
Australia’s S&P/ASX 200 Index slipped 0.3% and New Zealand’s NZX 50 Index lost 0.1%. South Korea’s Kospi Index slid 0.5%.
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