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Asian shares were down on Wednesday as investors were concerned over China’s latest interest rate hike which might derail the hopes of a sustained economic recovery. China raised interest rates by 25 basis points on Tuesday, its second increase in just over six weeks.
Japan’s Nikkei 225 was up 15.64 points or 0.15 per cent at 10,651.62. Hong Kong’s Hang Seng fell 77.19 points or 0.33 per cent to 23,407.11. Singapore’s Straits Times shed 30.27 points or 0.95 per cent to 3,155.09. South Korea’s Kospi dropped 26.21 points or 1.27 per cent to 2,043.49.
Australia’s S&P/Asx 200 was up 20.7 points or 0.42 per cent at 4,911.10. China’s Shanghai Composite was down 0.74 points or 0.03 per cent at 2,798.22. Taiwan’s Taiex declined 52.91 points or 0.58 per cent to 9,058.55.
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