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Asian shares mixed despite strong US growth | |
(about 4 hours later) | |
Asian shares traded mixed on Wednesday as the upward revision to the US economy's third quarter growth failed to excite investors. | |
The US economy grew at an annualised rate of 3.9% from July to September, up from the previous estimate of 3.5%. | |
The rise, which follows a strong second quarter, meant that the US has seen its strongest two consecutive quarters of growth in a decade. | The rise, which follows a strong second quarter, meant that the US has seen its strongest two consecutive quarters of growth in a decade. |
But that failed to ignite markets, with Japan's Nikkei down 0.1% at 17,383.58. | |
The dollar weakened to 117.76 yen from 117.97 yen in New York trade. | |
Hong Kong shares were higher 0.2% with the benchmark Hang Seng index at 23,890, while the Shanghai Composite rose 0.6% to 2,582.34. | |
In Australia, the S&P/ASX 200 index closed up 1.2% at 5,396.2, leading the region's gains. | |
However, the resources sector was weighed down by data that showed the number of resources projects reaching financial commitment in Australia fell to the lowest number and value in a decade. | |
In the six months to October, just three new projects, worth A$597m ($510m; £324m), reached the committed stage. | |
In South Korea, the benchmark Kospi finished flat at 1,980.84 points. | |
Shares in Samsung Techwin plunged by the daily limit of 15% after its parent firm Samsung Group said it was selling the defence subsidiary as well as three other affiliates to Hanwha Group for $1.7bn (£1bn). |