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Asian stock indices dropped due to the stronger yen and concerns over China’s housing market. On a monthly basis, housing prices in China increased 6.7% in April from March’s rise of 7.7%. The strong yen had a negative impact on exporters.
The core machinery orders in Japan increased 19.1% in March, from a 4.6% gain in February. That was the record growth in March. February’s figure was revised up from an 8.8% decrease. Analysts had expected a 6.0% increase. On a yearly basis, the Japanese core machinery orders rose 16.1% in March, from a 10.8% increase in February. Analysts had forecasted a 4.3% gain.
Indexes on the close:
Nikkei 225 14,006.44 -90.15 -0.64%
Hang Seng 22,704.5 -8.41 -0.04%
Shanghai Composite 2,005.18 -21.32 -1.05%
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