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Asian shares saw mixed trade on Wednesday, although solid U.S. earnings reports overnight helped to ease credit fears. MOREINFO: Nikkei falls, but Hong Kong and Korea gain. Taiwan posts biggest gain in four months, with tech shares glowing. SCRIPT: Asian shares saw mixed trade on Wednesday, although solid US earnings reports overnight helped to ease fears of a credit crisis in global financial markets. News that the Bank of England and the European Central Bank have injected cash into the market also helped to boost investor confidence. Japan's Nikkei extended losses for a sixth day as investors indulged in profit taking in bank shares. Shares in some Japanese steelmakers fell after initially rising on reports that Nippon Steel and two other domestic partners would bolster capital ties to counter the rapid growth of steel giant ArcelorMittal. Steady oil prices calmed fears about inflation after a report last week showed US consumer prices rose at their fastest pace in two years. The US dollar meanwhile held firm near a six-year high against the yen after the data scaled back expectations for aggressive monetary tightening by the Federal Reserve next year. Nina Mehra reporting for Reuters.
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Added: Dec 19, 2007 |
| Category: Business |
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