Asia Markets: Asian markets pull back, led by sharp declines in China [MarketWatch]
SONY CORP (SNE)
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Source: MarketWatch
Asian markets pull back, led by sharp declines in China Asian stock markets fell in early trading Thursday, after Wall Street closed lower and the Fed minutes suggested more interest-rate hikes ahead. Japan’s Nikkei NIK, -0.53% was down 0.5%, with energy stocks weak while financials were up amid fresh overnight gains in bond yields. After crude’s latest decline Wednesday, oil distributor Idemitsu Kosan 5019, -4.36% was down 4.5% and oil explorer Inpex 1605, -1.60% dropped 1.9%. The prospects of still-higher interest rates helped financials. Sony Financial 8729, +2.64% , whose primary business is insurance, was up 1.9% while major bank Resona 8308, +1.25% gained 1.5%. Elsewhere, Japan’s exports fell in September for the first time in almost two years, weighed down over fears of the U.S.-China trade dispute and a global economic slowdown. After yesterday’s holiday and strong regional gains, Hong Kong stocks were little changed amid generally modest declines elsewhere in th
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