Most of the Asian equity benchmarks are trading lower in the early deals on Wednesday as investors stayed cautious ahead of US and Japanese central bank policy decisions. Japanese stocks fell as Apple-related shares took a beating and disappointing corporate earnings came into sharp focus amid uncertainty over whether the Bank of Japan will deliver on expectations of further stimulus at this week's meeting. Japan-based suppliers of iPhone parts fell after Apple Inc reported its first-ever decline in iPhone sales and its first revenue drop in over a decade overnight. Among the other Asian markets, South Korea, Singapore, Malaysia, Hong Kong, and Taiwan are lower. Bucking the trend, Indonesia, and Shanghai are in positive territory.
Nikkei 225 dipped 81.93 points or 0.47% to 17,271.35, Hang Seng declined 50.84 points or 0.24% to 21,356.43, Straits Times contracted 9.29 points or 0.32% to 2,885.37, KOSPI Index slipped 3.65 points or 0.18% to 2,015.98, FTSE Bursa Malaysia KLCI dropped 8.19 points or 0.48% to 1,684.31, and Taiwan Weighted was down by 11.54 points or 0.13% to 8,570.03.
On the flip side, Shanghai Composite added 0.91 points or 0.03% to 2,965.61, and Jakarta Composite was up by 19.71 points or 0.41% to 4,833.80.