Most of the Asian equity indices are trading lower in the morning deals on Wednesday, as investors treaded cautiously following the overnight weak close on Wall Street. Meanwhile, the Japanese market is trading marginally higher, though activity is somewhat subdued so far. The investors looking ahead to the outcome of the European Central Bank's meeting on Thursday and the U.S. monthly jobs report due on Friday too contributed to the sentiments. The Chinese stocks dropped, dragging Shanghai Composite, the benchmark gauge, down for a fourth day, on concern government efforts to bolster economic growth will fail to counter the slumping property market. Among other markets in the region, Hong Kong, Shanghai, Singapore, Indonesia and Malaysia are trading marginally lower. Meanwhile, Taiwan is trading in positive territory.
Shanghai Composite dropped by 19.08 points or 0.94% to 2,019.22, Hang Seng declined 129.61 points or 0.56% to 23,161.43, Jakarta Composite slipped by 11.97 points or 0.24% to 4,930.19, KLSE Composite tumbled 7.76 points or 0.41% to 1,864.79, Straits Times was down by 14.71 points or 0.45% to 3,281.96.
On the flip side, Nikkei 225 soared 36.54 points or 0.24% to 15,070.79 and Taiwan Weighted was up by 9.35 points or 0.10% to 9,132.81.
South Korea market remained shut for the trade today for regional elections in that country.