Asian equity markets ended lower on Wednesday due to heavy selling pressure as lingering concerns over US-China trade talks, political uncertainty in Spain and fears that a snap election in Italy will turn into referendum on the country's euro membership sapped investors' appetite for risk. Chinese shares ended lower following reports that the Trump administration is considering imposing a hefty 25 percent tariff on the $50 billion worth of Chinese goods even as a US delegation is set to travel to Beijing for talks to resolve the dispute. Further, Japanese shares fell sharply as global bourses extended losses and the yen gained ground against the dollar and euro on fears over the stability of euro zone. Investors ignored preliminary figures showing that Japan's retail sales increased at a faster-than-expected pace in April. Retail sales climbed 1.6 percent year-over-year in April, faster than the 1.0 percent rise in March.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,041.44 | -79.02 | -2.53 |
Hang Seng | 30,056.79 | -427.79 | -1.40 |
Jakarta Composite | 6,011.06 | -57.27 | -0.94 |
KLSE Composite | - | - | - |
Nikkei 225 | 22,018.52 | -339.91 | -1.52 |
Straits Times | 3,443.95 | -74.53 | -2.12 |
KOSPI Composite | 2,409.03 | -48.22 | -1.96 |
Taiwan Weighted | 10,821.17 | -142.95 | -1.30 |
