Won and Rupiah drops on regional expansion worries

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Source: Bloomberg
Indonesia's Rupiah and South Korean Won depreciated sharply this week as statistics showed economic outlook is worsening in the region. South Korea's exports declined first time since 2010 while several Asian countries including India and Thailand were forced to cut benchmark rates to support growth. The Rupiah lost 0.4% and traded 9,035 per Dollar while South Korea's Won weakened 0.3% to 1,126.35 per Dollar. 
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Wed, 01 Feb 2012 15:04:53 GMT

Esprit prepares to close all its stores in North America

Clothing retailer Esprit Holdings plans to close all its North American stores as the company failed to sell the unprofitable unit. Esprit is attempting to cut costs and recover from 98% earnings drop last year. Representatives of company admitted, Esprit did not manage to get and maintain the market share in North America. Following the announcement Esprit shares lost 1.4%. 

Wed, 01 Feb 2012 14:40:32 GMT

Nikkei 225 index up on Wednesday, supported by financial stocks

Japan's Nikkei Stock Average closed slightly higher on Wednesday, lifted by financial stocks. Nikkei 225 index gained 0.08% or 7.28 points and finished at 8,809.79. Sumitomo Mitsui Trust Holdings jumped 3.4% and Mitsubishi UFJ Financial Group added 2.9%. All Nippon Airways surged 6.8% after company expanded its expectations for operating profit. Shipping companies also supported the index on the upside,

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