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Asian Shares Mostly Lower As Wall St. Run Sputters

Writer's picture: By The Financial DistrictBy The Financial District

Asian shares were mostly lower on Monday after Wall Street’s huge rally faltered last week. Japan’s Nikkei 225 index shed 2.2% to 38,820.49.


South Korea’s Kospi fell 0.8% to 2,659.53 and the S&P/ASX 200 in Australia gave up 1.8% to 7,704.20. I Photo: Neerav Bhatt Flickr



The government issued revised figures showing the economy grew 0.1% in the last quarter of the year, better than the minus 0.1% reported earlier but lower than forecasts, as reported by Elaine Kurtenbach for the Associated Press (AP).


That means the economy is not in a technical recession, though it’s expanding at a snail’s pace.


All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

Hong Kong’s Hang Seng rose 1.4% to 16,574.65 and the Shanghai Composite was up 0.2% to 3,052.38.


China’s National People’s Congress concludes later Monday with no major changes of policy expected. The mostly ceremonial body endorses decisions set by top leaders of the ruling Communist Party.



Market & economy: Market economist in suit and tie reading reports and analysing charts in the office located in the financial district.

Elsewhere in Asia, South Korea’s Kospi fell 0.8% to 2,659.53 and the S&P/ASX 200 in Australia gave up 1.8% to 7,704.20. On Friday, the S&P 500 fell 0.7% from its all-time high set a day before, closing at 5,123.69. The Dow dropped 0.2% to 38,722.69, and the Nasdaq slid 1.2% to 16,085.11.




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