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Equity markets in Asia are mostly lower after a negative lead from the US. Bourses in Australia lead the way, nursing losses of almost 2% pressured by losses in the commodity complex as iron ore declines 3%. Markets in Japan have also sustained heavy losses, the Nikkei 225 down around 1.5% as further areas declare a state of emergency. In Taiwan the Taiex is in minor negative territory after gaining 5% yesterday. Bourses in China hovered between small gains and losses. US equity futures are in the red, the Nasdaq leading the way lower, AT7T declined after the company announced intentions to spin off its media operations.