Asian equity markets followed their Wall Street peers lower on - TopicsExpress



          

Asian equity markets followed their Wall Street peers lower on Wednesday as heightened talk about a scaling back of the Federal Reserves monetary stimulus weighed on sentiment. Investors will be watching comments from Fed governor Ben Bernanke later on Wednesday for further hints on the direction of monetary policy. Meanwhile, Vice Chairman Janet Yellen will testify before the Senate Banking Committee during her confirmation hearing on Thursday. Nikkei slips 0.5%. Weak economic data tempered optimism over a weaker currency in Japans share market. September core machinery orders fell 2.1 percent from the previous month, signalling that Prime Ministers Shinzo Abes plans to boost capital expenditure still havent succeeded. Industrial exporters got a boost after dollar-yen hit a one-month high of 99.70 overnight and was near those levels in early Asia trade. Seoul slips 0.4%. Data showing that offshore investors were net sellers for a seventh straight session on Tuesday damped sentiment for South Koreas Kospi index. Index heavyweight Samsung Electronics fell over 1 percent as investors booked profits following the firms 2 percent rally on Tuesday. -CNBC
Posted on: Wed, 13 Nov 2013 00:34:11 +0000

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