(MENAFN– ecpulse)
Caution has dragged the Asian markets lower Tuesday as comments from the US Federal Reserve officials added to the uncertainty about when the central bank will start trimming its massive $85 billion-a-month stimulus program, keeping investors on the edge.
- MSCI Asia Pacific Index fell 0.8% to 140.46 as of 14:45 in Hong Kong.
Nikkei fell as the index resumed trade after being shut for a long weekend. The stronger yen added to the downside pressures on the index, dragging exporters lower. Yet Apple suppliers managed to rise after the company said sales for its new iPhone set a record.
- Nikkei 225 index closed 0.07% lower at 14732.61
- Topix closed 0.34% lower at 1214.87
In China, stocks fell on profit taking, yet managed to close above the 2,220 level. Banking stocks fell on reports showing that financial reforms will be a priority at a policy meeting later this year.
- China’s CSI 300 index closed 1.15% lower at 2443.89
- Hong Kong’s Hang Seng closed 0.82% lower at 23179.04
Australia`s benchmark index fell in quiet trade as lower metals prices hurt the index. Meanwhile, in South Korea the benchmark index tracked Asia-wide losses but moderate gains in tech stocks helped the index close with slight losses.
- S&P/ASX 200 closed 0.35% lower at 5234.16
- Kospi closed 0.11% lower at 2007.10
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