The Tokyo Stock Exchange (TSE), operated by Japan Exchange Group Inc. (JPX), in Tokyo, Japan, on Monday, Nov. 30, 2020.
Toru Hanai | Bloomberg via Getty Images
Shares in the Asia-Pacific traded lower Wednesday, following Wall Street’s negative lead ahead of the Federal Reserve’s expected rate hike.
Oil prices rallied in Asia’s afternoon after Russian president, Vladimir Putin, announced a partial military mobilization.
The Nikkei 225 in Japan dropped 1.36% to 27,313.13, while the Topix index also fell 1.36% to 1,920.80. In Australia, the S&P/ASX 200 slipped 1.56% to 6,700.20.
Hong Kong’s Hang Seng index fell 1.6% in the final hour of trade, and the Hang Seng Tech index dropped 2.7%. In mainland China, the Shanghai Composite lost 0.17% to 3,117.18 and the Shenzhen Component was 0.668% lower at 11,208.51.
South Korea’s Kospi declined 0.87% to 2,347.21. MCSI’s broadest index of Asia-Pacific shares outside Japan shed 1.4%.
“A sourer tone took hold over the past 24 hours, with equities lower and haven currencies, including the dollar, stronger,” Taylor Nugent, economist at National Australia Bank, wrote in a Wednesday note.
The Dow Jones Industrial Average dropped 313.45 points, or 1.01%, to 30,706.23. The S&P 500 slid 1.13% to 3,855.93 and the Nasdaq Composite slumped 0.95% to 11,425.05. The dollar index strengthened above the 110 level.
— CNBC’s Samantha Subin and Jesse Pound contributed to this report.
Read the full article here