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Overnight Markets: Wall Street ends rally after Fed statement
by Himanshu Singh on Oct 31, 2013 at 03:12
LinkedIn Corp. (LNKD) lost 9.3% after its quarterly sales outlook missed analysts’ predictions.
U.S. Steel Corp. (X) slid 2.9% after the largest US producer of the metal said it will permanently close parts of two plants as it cuts costs after four unprofitable quarters.
In Asia, share declined on Thursday in morning session after the US Fed fuelled bets it may start paring stimulus sooner than previously forecast.
The MSCI Asia Pacific Index dropped 0.4% to 143 as of 9:37 a.m. in Hong Kong. Japan’s Topix index swung between gains and losses as the Bank of Japan holds a policy meeting today with economists forecasting no chance in its policy.
China’s Shanghai Composite declined 0.4%, while Hong Kong’s Hang Seng Index retreated 0.7%. Singapore’s Straits Times Index slipped 0.5% and Taiwan’s Taiex Index lost 0.3%. South Korea’s Kospi Index slid 0.7%. Australia’s S&P/ASX 200 Index was little changed.
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