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Asia emerging markets hit by Fed

22 August 2013 Last updated at 12:30 BST

Shares and currencies in emerging Asian economies were hit by fears the US may scale back its bond-buying programme.

Stocks in Indonesia, Thailand and the Philippines fell, with the Philippine Stock Exchange down by more than 6%.

India's rupee hit a new all-time low, while the Indonesia rupiah fell to its lowest level since 2009.

The programme has been used by the US Fed to boost liquidity in the market, a part of which has flowed into Asia, lifting assets price in recent years.

Michelle Fleury reports.

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