Asian markets ended mostly lower on Wednesday, with Hong Kong and Japanese markets leading decliners, as a slew of negative headlines related to the Italian banking system and renewed fears about the uncertainty surrounding so-called Brexit sent shockwaves across global financial markets. Worries about financial stress in the aftermath of the vote for Brexit have grown in the past two days as three of Britain’s biggest property funds suspended trading, following increases in the number of investor redemptions since the referendum. Brexit worries sent the pound to three-decade lows and hammered risky assets. Japanese shares fell to more than one-week lows as the yen continued its strengthening trend on global risk aversion sparked by Brexit fears. Markets in Malaysia, Singapore, and Indonesia were closed for Eid-ul-Fitr. Bucking the trend, Chinese shares extended gains for the fourth day even as the yuan hit fresh 5-1/2 year lows, continuing its slide for the fifth straight session.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,017.29 | 10.90 | 0.36 |
Hang Seng | 20,495.29 | -255.43 | -1.23 |
Jakarta Composite | - | - | - |
KLSE Composite | - | - | - |
Nikkei 225 | 15,378.99 | -290.34 | -1.85 |
Straits Times | - | - | - |
KOSPI Composite | 1,953.12 | -36.73 | -1.85 |
Taiwan Weighted | 8,575.75 | -140.32 | -1.61 |