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Market Update

Asian Markets Pare Early Losses

Asian markets dropped in early Tuesday trades but pared back some of the losses later in the session after comments from the People’s Bank of China helped soothe concerns about the country’s banking sector.

The Shanghai Composite recovered most of the day’s losses to end 0.2% lower while the Hang Seng edged up 0.2%. Mumbai’s Sensex too ended 0.5% higher.