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Asian equity markets recover moderately

June 27, 2013

Asian stocks mostly rose, moderately recovering from heavy pressure witnessed during the last few days. Japan’s benchmark Nikkei 225 and Topix gained between 2% and 3%, while South Korea’s Kospi index jumped more than 3% with shares of Samsung Electronics advancing as much as 6.6%. Taiwan’s Taiex index climbed 1.2% and Singapore’s Straits Times advanced 1.4%. Australia’s S&P/ASX 200 added 1.7%.

However, China’s equity markets remained on the defensive. Shanghai’s CSI 300 tempo-rarily gained 1.5%, before it fell back again. The Shanghai Composite Index gained 0.4%, heading for its first advance in seven days. While central banks tried to calm market jitters, slower-than-estimated U.S. economic growth stoked speculation the Federal Reserve may hold back from reducing stimulus (read more on page 2).