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Asian shares slip after Wall Street rout

Published on Apr 11, 2014 11:07 AM

HONG KONG (AFP) - Asia's markets fell on Friday following hefty plunges on Wall Street as United States technology stocks suffered another sell-off, while China released data showing inflation picked up in March but was still below forecasts.

Tokyo sank 2.31 per cent by the break, Hong Kong lost 0.61 per cent, Shanghai was 0.18 per cent lower, Sydney shed 0.91 per cent and Seoul was down 0.77 per cent.

The Nasdaq suffered another slump on Thursday on lingering fears that high-flying technology stocks like Facebook and Netflix may be overvalued.

The tech-weighed index plunged 3.10 per cent, the biggest single-day percentage point drop since November 2011. The loss wiped out a two-day rally that picked up on Wednesday when the minutes of the latest Federal Reserve policy meeting suggested no support for an early rise in interest rates.

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