Asian stocks ended Wednesday’s session in red as Beijing failed to provide a clear direction on economic policy following the Third Plenum while the bets over the Fed stimulus tapering are rising, which weighed on sentiment. The US Federal reserve officials gave mixed signals yesterday regarding the monthly $85 billion bond purchases. Thereby, markets will be closely watching Fed governor Ben Bernanke’s comments later today for further hints on the direction of monetary policy. - The MSCI Asia Pacific Index fell 0.9% to 138.59 as of 13:53 in Tokyo In Japan, the benchmark index fell today on weak economic data which tempered the optimism over a weaker currency. Most exporters declined even as the yen hovered around Tuesday`s one-month low against the dollar. - Nikkei 225 closed 0.15% lower at 14567.16 - Topix closed 0.10% lower at 1204.19 In China, the benchmark index hovered near a new two-month low on the lack of concrete details on policy reforms announced at China’s Third Plenum meeting; leaders pledged to let markets play a decisive role in the economy without giving any further details. - China’s CSI 300 Index closed 2.22% lower at 2288.12 - Hong Kong’s Hang Seng closed 1.91% lower at 22463.83 Australia`s benchmark index fell to a three-week low due to weakness in financials, while in South Korea stocks fell as sentiment was damped by the wave of profit making triggered by the rallies seen in recent sessions. - The S&P/ASX 200 closed 1.37% lower at 5319.18 - New Zealand’s NZX 50 closed 0.06% higher at 4918.66 - Kospi closed 1.60% lower at 1963.56
Posted on: Wed, 13 Nov 2013 08:41:04 +0000
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