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Asia Markets: Asian shares weaken ahead of Fed Chairman’s report to Congress

Asian shares retreated Tuesday in quiet trading as investors awaited signs of what might be ahead for U.S. interest rates.

Japan’s benchmark Nikkei 225 NIK, +0.10% was flat at 21,526.22, while Australia’s S&P/ASX 200 XJO, -0.20% dipped 0.3%. South Korea’s Kospi 180721, -0.16% was marginally lower, down 0.2%. Hong Kong’s Hang Seng HSI, -0.78% fell 0.8%, while the Shanghai Composite SHCOMP, -0.51% lost 0.6%.

Shares fell on Wall Street Monday amid growing speculation an unexpectedly strong pickup in U.S. employment growth last month lead the Federal Reserve to hold back on aggressively cutting its benchmark interest rate.

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