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Asia markets fall _

October 12, 2024 00:00:00


China stocks led declines in Asia-Pacific markets on Friday, after key Wall Street benchmarks fell overnight as investors digested a sticky US inflation data, reports CNBC.

Mainland China's CSI 300 blue chip index declined 2.77 per cent to settle at 3,887.17, ending the week 3.25 per cent lower, as a stimulus-fueled rally continues to lose steam.

Investors in Asia also assessed a rate decision from the Bank of Korea, with the BOK cutting its benchmark interest rate by 25 basis points to 3.25 per cent, its first rate cut since 2020. The decision marks the end of a multi-year tightening cycle that sent the rates to a 15-year high in 2023.

Japan's Nikkei 225 gained 0.57 per cent to finish at 39,605.8, helped by financials and healthcare sectors. The broad-based Topix fell 0.24 per cent to close at 2,706.2.

South Korea's blue chip Kospi closed marginally lower at 2,596.91, while the small-cap Kosdaq inched 0.59 per cent lower to end at 770.87.

Australia's S&P/ASX 200 fell 0.1 per cent to 8,214.5.


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