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Asian shares sink
Source: Dunya News | 14-04-2014

Asia s markets slipped on Monday following another heavy sell-off on Wall Street and renewed concerns over the crisis in Ukraine.
Investors are also awaiting the release this week of first-quarter growth data from China, with analysts tipping a further slowdown in the world s number two economy.
Tokyo stocks dipped 0.10 percent in the morning and Hong Kong eased 0.11 percent while Sydney shed 0.52 percent, Shanghai was off 0.38 percent and Seoul was flat.
Bangkok and Mumbai were closed for public holidays.
US shares continued their downward spiral on Friday led by the technology sector, owing to fears big-name firms such as Facebook, Twitter and Netflix may be overpriced.
The Nasdaq sank 1.34 percent to its lowest close since February 3, the Dow tumbled 0.89 percent and the S&P 500 shed 0.95 percent.
Analysts said there was also some nervousness as the corporate reporting season gets underway.
Adding downward pressure on markets is the crisis over Ukraine after clashes erupted between government forces and pro-Moscow militias.
Russia and the West traded barbs on Sunday at the United Nations, with the Kremlin accusing the pro-Western interim government in Kiev of fomenting violence.
Britain, France and the United States blame Russia as fears grow that it is planning to send troops in to the east of Ukraine, in a move similar to that which saw it take over Crimea last month.
Closer to home for Asian investors, eyes this week are on Wednesday s release of Chinese gross domestic product figures for January-March.
A survey of 13 economists by AFP saw a median forecast of 7.3 percent growth in the period, which would mark the fourth slowdown in the past five quarters, and putting the country on track for its worst annual performance since 1990.
Traders have become increasingly worried about the Chinese economy, a key driver of global growth, following a string of weak data including on manufacturing and trade.
Some analysts say China s leaders will soon unveil stimulus measures to get the economy back up to speed. However, others suggest Beijing is happy to endure some initial pain as it looks to transform the growth model from one driven by exports and government investment.
On foreign exchange markets the dollar was at 101.60 yen early Monday compared with 101.65 yen in New York Friday afternoon.
The euro bought $1.3849 and 140.69 yen, down from $1.3882 and 141.11 yen.
Oil prices edged up. New York s main contract, West Texas Intermediate for May delivery, climbed 50 cents to $104.24 a barrel in early Asian trade. Brent North Sea crude rose 48 cents to $107.81 for its May contract.
Gold fetched $1,328.58 an ounce at 0220 GMT, from $1,320.08 late Friday.

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