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Asian share markets moved lower Tuesday, weighed down by real estate firms and financial stocks. The Nikkei dipped, hit by property firms after a brokerage downgrade. Yahoo Japan fell 4% after a source told Reuters that Microsoft would buy its search business but not the listed Japanese firm. In Sydney stocks ended a 4-day winning streak, as the country's top investment bank Macquarie Group fell after saying it faced a tough year. Seoul shares declined on renewed concerns rising energy and raw materials costs and how they would impact consumer spending. Samsung Electronics was among the main losers, following U.S. chipmaking peers lower. Taiwan's benchmark fell 2.4% as the new President was inaugurated, erasing some of a 5% rise over the previous week by Asia's best performing market. In China the key stock index hit a 4-week closing low, as bank shares fell on concerns about the impact of last week's earthquake on the economy. Dan Sloan reporting.
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Added: May 20, 2008 |
| Category: Business |
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