Asian equity benchmarks are trading lower in the early deals on Wednesday amid worries about the sell-off in the Chinese stock markets and the Greek debt crisis. The Japanese market traded lower on concerns about a meltdown in Chinese shares and Greece's debt crisis. Data showing that Japan logged a better-than-expected current account surplus in the month of May failed to boost sentiment.
Nikkei 225 contracted 465.55 points or 2.28% to 19,911.04, KOSPI Index declined 24.32 points or 1.19% to 2,015.97, Hang Seng slipped 1,049.22 points or 4.20% to 23,926.09, Taiwan Weighted decreased 251.08 points or 2.71% to 8,999.08, FTSE Bursa Malaysia KLCI dipped 13.72 points or 0.80% to 1,698.58, Straits Times crumbled 34.86 points or 1.04% to 3,306.07, Jakarta Composite dropped 12.84 points or 0.26% to 4,893.21 and Shanghai Composite was down by 144.63 points or 3.88% to 3,582.50.