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Overnight Markets: Wall Street flat amid fiscal cliff concerns
by Himanshu Singh on Nov 13, 2012 at 05:25
The MSCI Asia Pacific Index slipped 0.7% to 120 as of 12:01 p.m. in Tokyo. Japan’s Nikkei 225 Stock Average retreated 0.3% today, erasing an earlier gain of 0.5% as the yen strengthened.
Hong Kong’s Hang Seng Index fell 1% amid a sell-off in Chinese shares listed in the city. China’s Shanghai Composite Index was down 1.41%. South Korea’s Kospi slid 0.6%. Australia’s S&P/ASX 200 Index lost 1.1% after a private survey showed the country’s business confidence weakened.
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As the UK coalition government strives to rebalance the national economy, so called 'reshoring' looks set to play an increasingly important role in economic recovery.
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