Asia Stocks Slip, dollar Underpinned by Yield Premium

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Asian shares slipped on Thursday after Wall Street suffered a mild setback after weeks of gains, while the dollar stayed in demand as US government debt offered ever-fatter premiums over euro zone bonds. 

Japan's Nikkei lost 0.7 percent, edging away from its recent one-year top. Australia's main index eased 0.4 percent, having touched a 17-month peak the previous day. 

MSCI's broadest index of Asia-Pacific shares outside Japan was off a slight 0.1 percent. The pullback on Wall Street came amid light volumes and likely reflected caution about what the New Year might bring, given Wednesday was the first session when trades actually settle in January. 

The Dow fell 0.56 percent, while the S&P 500 lost 0.84 percent and the Nasdaq 0.89 percent. Boeing fell 0.9 percent after Delta Air Lines cancelled a USD 4-billion order for 18 Dreamliner aircraft.

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