Asian markets are witnessing selling pressure in Thursday’s morning deals, undermined by an overnight pullback in global equities. Sentiments remain dampened on worries about the outlook for the Federal Reserve's stimulus program after getting more upbeat economic data and as OECD lowered its forecast for global economic growth in 2013. Back on domestic turf, Japanese Nikkei are trading with cut of over three percent to below 14,000 level, dragged lower by the dollar's decline to its lowest since May 10 against the yen which weighed on exporters.
Shanghai Composite dipped 6.78 points or 0.29% to 2,317.23, Hang Seng declined 110.37 points or 0.49% to 22,444.56, Jakarta Composite tumbled 58.46 points or 1.12% to 5,142.23, KLSE Composite contracted 7.59 points or 0.43% to 1,775.88, Nikkei 225 crumbled 467.89 points or 3.27% to 13,858.57, Straits Times dropped 47.08 points or 1.40% to 3,320.39 and Taiwan Weighted was down by 79.09 points or 0.95% to 8,258.81.
On the flip side, KOSPI Composite was up by 3.76 points or 0.19% to 2,004.96.