Extending their last session’s southbound journey, Asian equity markets are trading mostly in the red terrain on Wednesday, hitting their lowest since mid-July as investors remained concerned over uncertainty about when the Federal Reserve will start to reduce stimulus keeping a leash on market bulls. Meanwhile, Japanese Nikkei share average slumped around three percent to a one-week low as exporters were hammered after the dollar fell to a six-week low against the yen.
Hang Seng dipped 62.40 points or 0.28% to 21,861.30, KLSE Composite decreased 5.19 points or 0.29% to 1,779.45, Nikkei 225 tumbled 426.68 points or 2.96% to 13,974.38, Seoul Composite declined 19.19 points or 1.01% to 1,887.43 and Taiwan Weighted was down by 87.84 points or 1.09% to 7,951.07.
On the flip side, Shanghai Composite surged 7.06 points or 0.34% to 2,067.56 and Straits Times was up by 9.71 or 0.30% to 3,234.60.
Indonesia’s Jakarta Composite is closed for a week till August 9 on account of Public Holiday ‘Id-ul-Fitr’.