Asia-Pacific stocks decline after overnight Wall Street drop; China inflation data ahead
Markets in Asia-Pacific declined Wednesday morning after shares on Wall Street tumbled overnight stateside.
In Japan, the Nikkei 225 dropped 1.22% in early trade while the Topix index fell 1.35%. South Korea’s Kospi also slipped 1.03%.
Over in Australia, the S&P/ASX 200 shed 0.95%.
Overall, the MSCI Asia ex-Japan traded 0.36% lower.
The moves regionally came as Investors reacted to overnight declines on Wall Street. The Nasdaq Composite dropped 4.1% to close at 10,847.69. Tuesday’s drop put the tech-heavy Nasdaq down 10% over the past three days. The Dow Jones Industrial Average plunged 632.42 points, or 2.3%, to end its trading day at 27,500.89. The S&P 500 slid 2.8% to close at 3,331.84.
On the economic data front, Chinese inflation data for August is expected, with the consumer price index and producer price index for that month set to be out at around 9:30 a.m. HK/SIN on Wednesday.
Reference: CNBC
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