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Overnight Markets: US stocks fall on retail data

by Himanshu Singh on Dec 03, 2013 at 03:12

In Asia, shares outside Japan declined as signs the US economy is strengthening fuelled speculation that the Federal Reserve will soon start tapering stimulus.

The MSCI Asia Pacific excluding Japan Index dropped 0.5% to 472 as of 10:35 a.m. in Tokyo. Japan’s Topix index rose 0.5% after the yen fell to a six-month low versus the dollar. The MSCI Asia Pacific Index, which includes Japan, lost 0.2% to 141.

Hong Kong’s Hang Seng Index retreated 0.7% and China’s Shanghai Composite Index dipped 0.3%. South Korea’s Kospi index dropped 0.7%.

Australia’s S&P/ASX 200 Index lost 0.3% and New Zealand’s NZX 50 Index declined 0.7%. Singapore’s Straits Times Index and was little changed Taiwan’s Taiex index declined 0.3%.

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