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Asian shares slip; German, Korean data hurt risk appetite


Added 04-25-19 12:03:02am EST - “Asian shares slipped on Thursday as a surprise deterioration in German and South...” - Reuters.com

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Posted By TheNewsCommenter: From Reuters.com: “Asian shares slip; German, Korean data hurt risk appetite”. Below is an excerpt from the article.

TOKYO (Reuters) - Asian shares slipped on Thursday as a surprise deterioration in German and South Korean economic data rekindled fears of slowing global growth, while oil prices pulled back slightly after a sharp run-up earlier in the week.

The Japanese yen weakened marginally to near 112 a dollar after the Bank of Japan kept policy unchanged at a review on Thursday but pledged to keep interest rates very low at least until early 2020.

It had previously merely said it would keep current extremely low levels of rates for an extended period of time. The BOJ also said it would explore lending ETFs to the market.

The euro steadied after slumping to a 22-month low of $1.114 to the U.S. dollar overnight, driven by a drop in German business confidence which highlighted the divergence between data in the euro zone and the United States.

Data showing the South Korean economy unexpectedly contracted in the first quarter of the year also fueled worries about the dual-speed nature of the global economy.

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