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Markets Grind into the Weekend
Friday the 13th is supposed to be ominous, but the global capital markets are mostly subdued. China's port shutdown and anxiety since South Korea reported a decline in memory chip exports weighed on Asia Pacific equities, with the Kospi and Taiex falling more than 3% this week and sending the South Korean won to its lowest level of the year. The Baltic Dry Index rose 2.75% yesterday to put this week's increase near 4% coming into today. This week will be the ninth weekly advance in the last 10 weeks, and it is up nearly 44% over this span. European stocks continue to edge higher, and the Dow Jones Stoxx 600 is ... (full story)