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Asian equity markets ended mixed in thin trade on Wednesday after strong global economic data triggered fears of an early end to U.S. stimulus.
Asian equity markets ended at session highs on Tuesday with Japan's benchmark index leading gains by 2.6 percent as the yen weakened on news of corporate tax cuts.
China's benchmark index shot up to a seven-week high on Monday, boosting Asian stocks across the board on optimism that the world's second-largest economy may be stabilizing, but Japan bucked the trend after weak growth data.
China's benchmark index outperformed Asia on Friday to end the week in positive territory after a raft of economic data painted an upbeat picture of the world's second largest economy.
Japan's benchmark index suffered a second consecutive steep fall on Thursday after the previous day's 4 percent tumble as the yen rose, while the rest of Asia ended mixed following China's upbeat trade figures.
Japan's Nikkei index ended below the key 14,000 level on Wednesday as the yen hit a six-week high against the greenback on uncertainty about when the Federal Reserve could begin tapering its easy-money program.
NEC said that it would quit making smartphones, acknowledging that it had lost sight of the development of mobile technology. The New York Times reports.
Tokyo is one of three cities in the running to host the 2020 Olympic Games and there are a number of Japanese stocks that could do well if Tokyo wins the bid.
Asian stocks were mixed on Wednesday as investors adopted a wait-and-see approach ahead of the Federal Reserve's policy statement.
Last year it was a turnaround story. This year it's a giant question mark. What do you do with Sprint?
Hedge fund founder John Paulson is betting big on the telecom sector and it's paying off big-time. The latest win could be AT&T's $1.9 billion deal for Leap Wireless.
Japan's Softbank received the final approval it needed from U.S. regulators for its $21.6 billion bid to take control of No. 3 US wireless provider Sprint Nextel.
Dish Network has bowed out of the battle for mobile service provider Clearwire Corp, marking the second major blow in less than a week.
Asian stock markets surrendered early gains on Wednesday with the Shanghai Composite index leading declines as investors continued to worry about strained liquidity conditions in China despite reassurance from the central bank.
Sprint Nextel raised its buyout offer for Clearwire to $5 per share on Thursday and announced support from a key group of dissident shareholders, trumping rival Dish Network.
Dish Network Corp said it would not make a new offer to buy Sprint Nextel in time for a Tuesday deadline and will instead focus on its tender offer for Clearwire Corp.
Sprint Nextel has sued Dish Network to block its offer for Clearwire, on the eve of a key deadline in a battle that also includes Japanese mobile carrier SoftBank.
Japan's SoftBank said on Tuesday that it has agreed with Sprint Nextel to raise its offer for the U.S. wireless operator to $21.6 billion.
Asian stocks rose on Monday with Japan's benchmark Nikkei rebounding on the back of a strong gross domestic product (GDP) revision and a weaker yen.
SoftBank is in talks with Deutsche Telekom over a possible deal for T-Mobile US, as the Japanese company looks for alternatives if its $20.1 billion deal with Sprint Nextel falls apart.