Asian markets shut shop in the red on Thursday

All the Asian equity indices barring KOSPI Composite snapped the day’s trade in the negative terrain on Thursday following losses on Wall Street while, selling was also triggered by nervousness ahead of crucial Greek polls at the weekend and fears over Spain. Sentiments also remained dampened after Moody's rating for Spain's government bonds dropped three notches to Baa3 from A3, one step above junk status, which is considered a ‘highly speculative’ investment. Meanwhile, Japanese Nikkei edged lower on Thursday as investors continued to cut their exposure to risky assets, hedging against the potentially disruptive consequences of Greece’s election at the weekend and Federal Reserve and G20 meetings next week. However, Seoul shares rose over half a percent after a range-bound session, showing a small spike in late business on arbitrage trading triggered by expiring futures.