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indices plunged due to a stronger yen and losses on Wall Street. Stocks
of the export companies traded lower as the yen increased against major
currencies. Demand for the safe haven yen was increasing. A stronger yen makes
Japanese goods less competitive abroad.
Concerns over the China’s economy had a negative impact on Chinese stock indices. China’s HSBC Services PMI decreased to 51.4 in April from 51.9 in March.
Indexes on the close:
Nikkei 225 14,033.45 -424.06 -2.93%
Hang Seng 21,746.26 -230.07 -1.05%
Shanghai Composite 2,010.08 -17.95 -0.89%
SoftBank Corp., the biggest investor in Alibaba Group Holding Ltd., shares dropped 5.1% after Alibaba filed for an initial public offering in New York on Wednesday.
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