(MENAFN– ecpulse)
Asian stocks fell on Wednesday amid worries the Federal Reserve may consider start reducing their unprecedented stimulus during their monetary policy meeting on December 17-18 since the recent US data showed the economy is strengthening.
- The MSCI Asia Pacific Index slid 0.7% to 139.80 as of 14:03 in Hong Kong
Markets showed little reaction to the US budget deal that would help eliminate the constant threat of a government shutdown. Senate Democrats and Republicans reached a deal to reduce the automatic spending cuts and provide $23 billion in deficit reduction.
In Japan, the benchmark index hit a one-week low earlier in the session on a stronger yen which weighed on sentiment and offset optimism over upbeat economic data. Machinery orders rose in October in a sign that companies are finally increasing capital expenditure.
- Nikkei 225 closed 0.62% lower at 15515.06
- Topix closed 0.47% lower at 1250.45
In China, the benchmark index closed at its lowest level in two weeks as nervous investors awaited updates from the government`s annual Central Economic Work Conference which began on Tuesday.
- China’s CSI 300 Index closed 1.65% lower at 2412.76
- Hong Kong’s Hang Seng closed 1.71% lower at 23338.24
In Australia, the benchmark index ended at its lowest level since August 29 after consumer sentiment fell in December, while in South Korea shares fell to a one-month low on caution ahead of Thursday`s Bank of Korea policy decision.
- The S&P/ASX 200 closed 0.65% lower at 5104.25
- New Zealand’s NZX 50 closed 0.05% lower at 4704.30
- Kospi closed 0.78% lower at 1977.97
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