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Asia markets slide further in early trading as Wall Street pauses market rally



Cranes unload shipping containers from a vessel at the Port of Fremantle in Perth, Australia, on Monday, Aug. 26, 2013.

Sergio Dionisio | Bloomberg | Getty Images

Asia-Pacific markets are set to fall as Wall Street saw a pause in its market rally and the broad market index fluctuated near its highest closing levels since August 2022. Investors in the region also further assessed economic data that has been released this week.

China’s exports fell further than than expected and Australia’s central bank defied market expectations by delivering a 25 basis-point hike.

Australia stocks were up marginally, ahead of the economy’s May trade balance later today.


In Japan, the Nikkei 225 rebounded from a sharp drop on Wednesday to open up 0.12%, while the Topix climbed 0.26%.

Japan saw its annualized GDP for the first quarter revised to 2.7%, higher than the 1.9% expected by economists polled by Reuters and the 1.6% posted in its preliminary figures.

South Korea’s Kospi inched down 0.23% in early trade, while the Kosdaq saw a larger loss at 0.43%.

Hong Kong’s Hang Seng index is also set to fall after a brief rally on Wednesday, with futures at 19,116 compared to the HSI’s close of 19,252.

India’s central bank is expected to announce its interest rate decision today, with economists polled by Reuters expecting the Reserve Bank of India to hold rates at 6.5% for a second consecutive time.

Source: CNBC


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