Most Asian markets fell Wednesday as disappointed hopes that the U.S. Federal Reserve would signal another round of asset purchases and concern about the fallout from European debt troubles kept buyers away.
Many regional markets flirted with positive territory during the session after a string of recent declines, but they couldn’t hold on to the gains.
Japan’s Nikkei 225 Index slid 33.68 points, or 0.4%, to 8,519.13
In Hong Kong, the Hang Seng Index shaved off 92.74 points, or 0.5%, to 18,354.40
Financials were mixed in Hong Kong, with shares of AIA Group Ltd. rising 0.6% and Bank of China Ltd. gaining 0.4%, while heavyweight HSBC Holdings PLC declined 1.8%.
But resource-sector stocks mostly declined in Hong Kong as well as Shanghai, tracking weak metals prices.
Aluminum Corp. of China, or Chalco, shed 3%, Jiangxi Copper Co. fell 1.7% and Zhongjin Gold Corp. shed 2.4% in Shanghai; in Hong Kong, Chalco lost 3.1% and Jiangxi fell 1.4%.
In Tokyo, JFE Holdings Inc. fell 0.9% and Mitsui Mining & Smelting Co. shed 1.4%.
In Sydney, Alumina Ltd. dropped 0.8% and Newcrest Mining Ltd. gave up 1.2%.
Shares of Olympus Corp. fell 4.1% in Tokyo after the company submitted corrected earnings reports for the past five financial years, after admitting to an accounting scandal.
The day’s losses came after the U.S. Federal Reserve Tuesday didn’t signal that it would launch another round of asset purchases, prompting a retreat for stocks on Wall Street.
Weaker-than-expected U.S. retail sales also damped sentiment, while Europe’s debt troubles and the potential impact on global economic growth are an ongoing concern for investors.
In Japan, shares of exporters continued to weaken on the global-demand outlook, with Honda Motor Co. dropping 2.2% and Komatsu Ltd. shedding 1.3%.
In other markets;
Shanghai’s CSI 300 index ditched 24.45 points, or 1%, to 2,397.48
Taiwan’s Taiex Index actually gained 26.26 points, or 0.4%, to 6,922.57
Korea’s Kospi Index subtracted 6.31 points, or 0.3%, to 1,857.75
Singapore’s Straits Times Index gave back 13.35 points, or 0.5%, to 2,672.39
New Zealand’s NZX 50 Index dropped 8.65 points, or 0.3%, to 3,284.14
Australia’s S&P/ASX 200 Index dipped 2.90 points to 4,190.50
