Asian stocks end lower before Fed comments

Asian stocks were dragged lower on Tuesday due to the negativity seen on Wall Street and the rising caution before the release of the minutes of the Federal Open Market Committee`s October meeting scheduled for Wednesday.

Comments from New York Fed President William Dudley weighed on sentiment as he expressed his optimism over the US’s economic recovery, which was seen as a sign that the central bank might reduce its stimulus program soon.

- The MSCI Asia Pacific Index was little changed at 143.05 as of 15:45 in Hong Kong 

In Japan stocks fell on profit-taking while a stronger yen hurt some exporters after the dollar-yen fell below the 100 handle. Reports of a new government-led stimulus package failed to lift sentiment. 

- Nikkei 225 closed 0.25% lower at 15126.56

- Topix closed 0.39% lower at 1236.86

In China stocks fell in a correctional move after climbing to their highest level in nearly a month on Monday following the release of Beijing`s bold reform plans from its Third Plenum that included further financial liberalization.

- China’s CSI 300 Index closed 0.69% lower at 2412.16

- Hong Kong’s Hang Seng closed 0.01% lower at 23657.81

In Australia stocks fell for a second session due to continued weakness in financials yet the optimistic comments from minutes of the Reserve Bank of Australia`s latest policy meeting helped limit some losses. In South Korea stocks rose on renewed foreign buying.

- The S&P/ASX 200 closed 0.59% lower at 5352.90

- New Zealand’s NZX 50 closed 0.60% lower at 4862.51

- Kospi closed 1.04% higher at 2031.61