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Asian stocks slump as Korean peninsula tensions rise
On Wednesday, Asian stocks dipped, led by Tokyo because tensions on the Korean peninsula inched up.
Japan's Nikkei 225 declined 1.25%, showing its lowest value since December the previous year.
In Japan, in February, core machinery orders went up 5.6% year-on-year, beating a 2.5% revenue observed. However, the month-on-month figure inched up 1.5%, missing the 3.7% profit expected. Besides this, Japan’s PPI soared 1.4% year-on-year in March, which is faster than the 1.3% surge observed.
The Shanghai Composite lost 0.32%, Hong Kong's Hang Seng Index tumbled 0.30%. Additionally, in March China’s CPI lost 0.3% as expected month-on-month as well as a leap 0.9% year-on-year, which is a bit less than seen. In China, PPI added 7.6% as expected.
Australia's S&P/ASX 200 sank 0.06%, South Korea's Kospi edged down modestly. Stocks in Australia's Telstra declined more than 7% after TPG Telecom secured licenses in the government's previous auction of mobile spectrum. The company disclosed plans to create its own mobile network.
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