Tuesday, 9 May 2017

Asian markets muted; South Korean election, Australia budget in focus

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Asian equities were mostly muted after soaring in the previous trading session with investors focused on key regional events unfolding in the day, including a presidential election in South Korea and the release of the Australian federal budget. South Koreans take to the polls today to choose a new leader after the ouster of former President Park Geun-hye on bribery charges. The front-runner in the election is Moon Jae-in from the liberal Democratic Party of Korea. Polls show that Moon has secured 38 percent of support from voters among a total of 13 candidates, according to Reuters.

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