Asian shares drop to 5-week low; government bonds benefit

01/15/2009 | Reuters

Asian shares were knocked down to a five-week low today on dismal global economic data and a worsening U.S. banking crisis. Key indexes in Japan, Australia, South Korea and Taiwan plunged more than 3% each. Investor jitters helped boost government bonds, seen as safe havens during the market turmoil. Japan's government-bond futures reached their highest level in four months.

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