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Foreign market
Asian shares fall
Asian shares closed mostly lower in lacklustre trade on Wednesday following the lower close of US stocks overnight. The closure of the key Tokyo market for the Golden Week holidays accentuated the lack of direction in the region. Hong Kong share prices fell 1.5 per cent in featureless trade, following the overnight declines on Wall Street. Hang Seng lost 240.29 points to close at 15,577.47, on turnover of 10.26 billion Hong Kong dollars (1.32 billion US). Dealers said the market has not established a direction and there appears to be a lack of consensus as to how much the US Federal Reserve will raise interest rates at its next meeting in mid-May. Share prices closed one per cent lower amid bearish sentiment due to Wall Street's volatility.Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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