The Asian markets have made a soft start tailing the overnight weakness in the US bourses, following news that the International Monetary Fund lowered its outlook for US economic growth. Also, as Janet Yellen signaled the U.S. economy can withstand higher interest rates and said asset valuations were rich. While, the stocks in Japan fluctuated in early deals, the Hong Kong stock market further headed to south and now rests just beneath the 25,840-point plateau. Chinese markets too remain in focus after the yuan surged both onshore and overseas on Tuesday amid speculation of central bank intervention. The market in Indonesia remained closed for the trade today.
Hang Seng decreased 149.33 points or 0.58% to 25,690.66, Taiwan Weighted declined 106.74 points or 1.02% to 10,405.32, Nikkei 225 shed 58.88 points or 0.29% to 20,166.21, FTSE Bursa Malaysia KLCI dropped 6.47 points or 0.36% to 1,772.98, KOSPI Index slipped 4.84 points or 0.2% to 2,387.11 and Shanghai Composite was down by 4.73 points or 0.15% to 3,186.46.