· U.S. tech selloff hits equities, oil falls on demand worry
Asian shares fell on Wednesday and oil prices hit lows not seen since June after a rout in technology shares sank Wall Street for a third consecutive day and a major drugmaker delayed testing of a coronavirus vaccine.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS slid 1.06%. Australian stocks dropped 2.47%, while shares in China .CSI300 fell 1.53%. Japan's Nikkei .N225 skidded 1.12%.
Sentiment for equities and other risky assets also took a hit after AstraZeneca Plc (AZN.L) paused a late-stage trial of one of the leading COVID-19 vaccine candidates due to an unexplained illness in a study participant.
· Japan stocks hit 1-1/2-week low as U.S. tech rout turns contagious
Japanese shares on Wednesday dropped to their lowest in more than a week as global risk sentiment soured after an extended selloff in U.S. heavyweight technology companies.
The benchmark Nikkei share average closed 1.04% lower at 23,032.54, while the broader Topix lost 0.96% to 1,605.40. Both indexes hit their lowest level since Aug. 28.
Optimism that the Bank of Japan would buy exchange-traded funds to support the market in addition to a higher e-mini futures for the S&P 500 helped curb early declines.
· China stocks fall most in 6 weeks as rift with U.S. deepens
China stocks dropped the most in six weeks on Wednesday following Wall Street’s tech rout, with heightened Sino-U.S. tensions and falling oil prices also curbing risk appetite.
Some stock investors rotate into bonds amid signs of tighter regulatory scrutiny and climbing yields.
The blue-chip CSI300 index fell 2.3% to 4,584.59 points, posting its biggest one-day percentage drop since July 24. The Shanghai Composite Index lost 1.9% to 3,254.63 points.
· European markets open mixed amid tech-led sell-off in the U.S.
European stocks opened mixed Wednesday as investors react to the technology-led rout in the U.S. that is putting pressure on financial markets around the world.
The pan-European Stoxx 600 hovered just above the flatline at the start of trading, with travel and leisure stocks dropping 1.9% while utilities added 0.5%.
Reference: CNBC, Reuters
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