Asian stocks slump as Korean peninsula tensions rise

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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