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Asia Stocks Slide as Korea Enters Correction, Japan Slumps

  • South Korea’s Kospi benchmark enters technical correction
  • Nikkei 225 index has fallen nearly 10% from a recent peak
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Asian stocks slipped, led by Japan and Korea, as surging commodity prices fueled concerns about global inflation.

The MSCI Asia Pacific Index lost as much as 1.7% Tuesday in its third day of declines, with technology stocks contributing most to the weakness. South Korea’s Kospi entered a technical correction, while Japan’s Nikkei 225 extended losses from its recent peak to almost 10%.