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Asian shares lower on oil price slump Asian shares lower on oil price slump
(35 minutes later)
Asian shares fell again on Thursday as falling oil prices continued to fuel global growth fears.Asian shares fell again on Thursday as falling oil prices continued to fuel global growth fears.
Crude oil prices fell as much as 5% overnight on weak US demand and Saudi Arabia reaffirming that it has no plans to curb output.Crude oil prices fell as much as 5% overnight on weak US demand and Saudi Arabia reaffirming that it has no plans to curb output.
Added to that, a key gauge of Japan's capital spending fell for the first time in five months in October.Added to that, a key gauge of Japan's capital spending fell for the first time in five months in October.
Core machinery orders fell 6.4% month on month, well below forecasts of a 2.4% decline.Core machinery orders fell 6.4% month on month, well below forecasts of a 2.4% decline.
That led the benchmark Nikkei 225 down 1.4% to 17,172.59, pulling the index further away from the seven-and-a-half year highs hit at the beginning of this week. That led the benchmark Nikkei 225 down 0.9% to 17,256.76, pulling the index further away from the seven-and-a-half year highs hit at the beginning of this week.
The dollar was down to 117.61 yen, continuing its retreat from a seven-year high of 121.86 hit on Monday. The dollar was down to 118.09 yen, continuing its retreat from a seven-year high of 121.86 hit on Monday.
Rest of Asia
China shares opened lower following Wall Street's sharp losses overnight with the S&P 500 falling to its lowest since early November.
In Hong Kong, the Hang Seng index fell 1.3% to 23,219.97, while the Shanghai Composite was down 0.3% at 2,906.31.
Australian shares were lower on a mixed jobs report after data showed that the economy added more jobs than expected.Australian shares were lower on a mixed jobs report after data showed that the economy added more jobs than expected.
But, the unemployment rate still hit a decade high of 6.3% - the highest since 2002.But, the unemployment rate still hit a decade high of 6.3% - the highest since 2002.
The benchmark S&P/ASX 200 was 0.6% lower at 5,228.1 points. The benchmark S&P/ASX 200 was 0.2% lower at 5,249.9 points.
In South Korea, shares were down after the country's central bank kept interest rates unchanged for a second consecutive month, in line with expectations.In South Korea, shares were down after the country's central bank kept interest rates unchanged for a second consecutive month, in line with expectations.
The Kospi index was down 0.8% at 1,930.4 points. The Kospi index was down 0.8% at 1,930.92 points.