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Asia Stocks Slip on Weakness in US Retail Sales

4 May 2012

Asian stock markets were mostly lower Friday after disappointing US retail sales stirred concerns about the robustness of the recovery in the world’s No. 1 economy. Hong Kong’s Hang Seng fell 0.8 percent to 21,089.17 and South Korea’s Kospi lost 0.4 percent to 1,987.46. Australia’s S&P/ASX 200 shed 0.8 percent to 4,393.90. Benchmarks in Singapore, New Zealand and Indonesia fell. Mainland China and Taiwan rose. Markets in Japan were closed for a public holiday. Investor nerves have also been tested by a report that showed US businesses adding far fewer jobs in April than they did in March.—AP