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SINGAPORE: Asian shares opened lower on Wednesday, following Wall Street's overnight decline.
US shares dipped on Tuesday as euphoria faded from a massive rally a day earlier and investors fretted over the economic impact of the credit crisis despite a stepped-up rescue plan.
The Dow Jones Industrial Average fell 76.62 points (0.82 per cent) to 9,310.99, giving back a portion of a whopping 936-point gain on Monday, which was the biggest point gain ever and largest percentage rise in 75 years.
The Nasdaq fell a hefty 65.24 points (3.54 per cent) to 1,779.01, reflecting worries about profits in the tech sector, while the broad Standard & Poor's 500 index dipped 5.34 points (0.53 per cent) to 998.01 after surging on Monday.
Australian shares fell 1.4 per cent in early trade on Wednesday. The S&P/ASX200 lost 60 points to 4,275.2 within 45 minutes of the opening, while the broader All Ordinaries was down 60.9 points at 4,250.6.
Japanese share prices opened 0.60 per cent lower and South Korean shares slipped 2.1 per cent or 29.23 points at 1,338.46.
- CNA/yt
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