Japan stocks posted a second day of decline on Wednesday, with the yen climbing against the greenback, as continuous plunge in crude prices eroded investors’ confidence.
In Japan, the Nikkei 225 index dumped 291.75 points, or 1.7%, to 16,795.96. The yen, a traditional safe-haven currency, climbed against the U.S. dollar to ¥117.01, its highest level since October, compared with ¥117.84 late Tuesday in New York.
In Hong Kong, the Hang Seng index dropped 103.37 points, or 0.4%, to 24,112.60.
Meanwhile, overnight losses in the U.S. markets and a Nikkei news report saying the Bank of Japan was set to cut its inflation forecast also affected the sentiment.
In Japan, market movers included console maker Nintendo Co., Ltd , tumbling 4.3%, Sony Corporation, down 3.4%, and oil refiner Showa Shell Sekiyu K.K., off 2.8%.
In other markets;
The Shanghai CS300 index fell back 11.62 points, or 0.3%, to 3,502.42
The Kospi in Korea slipped 3.48 points, or 0.2%, to 1,913.66
In Taiwan, the Taiex index retreated 51.57 points, or 0.6%, to 9,180.23
In Singapore, the Straits Times Index slid 14.91 points, or 0.5%, to 3,326.16
New Zealand’s NZX 50 index added 12.02 points, or 0.2%, to 5,648.63
Australia’s S&P/ASX 200 skidded 51.09 points, or 1%, to 5,353.60
