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Tuesday 06th of January 2009
April 14, 2005

Markets down across Asia


by Brian Turner
Markets down across Asia

In Asian markets Thursday, stocks were generally down.

Sydney’s markets hit their lowest point in almost three months when the S&P/ASX 200 fell 1.3 percent to 4082.3.

Taipei was down 0.4 percent due to technology sell-offs.

Seoul had its biggest one-day loss in nearly six months when its composite index fell 2.8 percent.

The Tokyo markets were still feeling the effects of recent tensions between Japan and China.

In addition, technology stocks were down due to alarm that weak retail sales figures from the U.S. would slow down consumer spending.

These losses included a 1.4 percent loss for Sony.

The banking sector was also down, and so was the retail sector - retailer Takashimaya was down 5.6 percent, for example.

One exception to retail losses was Lawson, Japan’s second-largest retail chain. It was up 2.2 percent following reports of record profits and predictions of more growth to come.

Additionally, Kanebo, the household goods manufacturer rocked by an accounting scandal, was down 15.5 percent on Thursday after a 13.4 percent loss on Wednesday.

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