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Published 2 months ago

Stock market today: Asian shares track Wall Street slump triggered by strong US spending data

Summary by Washington Top News
BANGKOK (AP) — Asian shares skidded Tuesday following a slump on Wall Street after higher yields in the U.S. bond market cranked up pressure on stocks. The Shanghai Composite index lost 1.7% to 3,007.07 even though the Chinese government reported that the economy grew at a surprisingly fast 5.3% annual rate in the first quarter of the year. In quarterly terms it expanded at a 1.6% pace. The Hang Seng in Hong Kong lost 2.1% to 16,248.97. Tokyo…

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