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Asian markets down on fiscal cliff news | Updated: 11:48:52 PM, Saturday December 22, 2012

Asian markets are mostly down after Republicans scrapped a vote on putting in place a back-up plan if talks on averting the US fiscal cliff end in failure.

The news from Washington cancelled out a rally on Wall Street and upbeat data on the US economy, while it also hit currency traders, who have sent the safe-haven yen higher despite more Bank of Japan monetary easing.

Tokyo fell 0.99 per cent, Sydney is down 0.23 per cent, and Hong Kong slid 0.68 per cent, while Shanghai lost 0.69 per cent.

In other markets, Taipei has dropped 0.99 per cent, but Manila closed 0.45 per cent higher, Wellington’s down 0.51 per cent, while Singapore is also up, by 0.54 per cent.

Bangkok was flat, Jakarta is down 0.49 per cent, while Kuala Lumpur shares gained 0.30 per cent.

Mumbai fell 1.09 per cent.

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