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HONG KONG, June 28: Asian stocks fell on Wednesday, with investors unwilling to defend Tuesday's gains in the face of another sell-off on Wall Street sparked by a fresh bout of nerves over US interest rates, dealers said.
They said there was no fresh news to go on, leaving the markets to once again agonise over the various scenarios of what the US Federal Reserve may or may not do come Thursday.
It is widely agreed the US central bank will hike rates another 25 basis points to 5.25 per cent but the concern is will it do so again in August and perhaps beyond as it seeks to dampen inflation driven by rising oil prices.
TOKYO: Japanese share prices tumbled on a weaker Wall Street as investors grew increasingly anxious about the prospect of higher US interest rates, dealers said.
The Tokyo Stock Exchange's benchmark Nikkei-225 index fell 285.70 points or 1.88 per cent to 14,886.11. The broader TOPIX index of all first-section shares lost 21.86 points or 1.41 per cent to 1,527.51.
Losers led winners 1,429 to 212, with 54 stocks unchanged.
HONG KONG: Hong Kong share prices closed down 0.20 per cent but were off their lows as select stocks attracted support ahead of the settlement of June futures contracts Thursday, dealers said.
SYDNEY: Australian share prices closed 1.05 per cent lower following an overnight sell-off on Wall Street as nervous investors once again fretted about the outlook for US interest rates, dealers said.
The benchmark S and P/ASX 200 index shed 52.4 points to close at 4,946.8 while the broader All Ordinaries index lost 48.4 points to 4,909.2
SINGAPORE: Singapore share prices closed 0.29 per cent lower as investors remained cautious ahead of an expected US Federal Reserve hike in interest rates Thursday, dealers said.
The Straits Times Index fell 6.78 points to 2,350.80 on volume of 870.339 million shares worth 775.399 million Singapore dollars (US $488.5 million).
Losers beat winners 307 to 151, with 748 stocks unchanged.
KUALA LUMPUR: Malaysian share prices closed little changed, with investors kept in check by rising oil prices and concerns over the prospect of higher US interest rates, dealers said.
JAKARTA: Indonesian share prices closed 1.06 per cent lower, in line with regional markets as investors sold off on interest rate concerns ahead of the US central bank meeting, dealers said.
WELLINGTON: New Zealand share prices closed 1.09 per cent Wednesday, reflecting falls in international markets and negative sentiment towards leading stocks Telecom and Contact Energy, dealers said.The benchmark NZSX-50 gross index fell 39.10 points to 3,574.32 on turnover worth 141.3 million New Zealand dollars (US $84.9m).
MUMBAI: Indian share prices closed down 0.21 per cent in volatile trade, with investors cautious ahead of a key US Federal Reserve meeting where interest rates are expected to be hiked, dealers said.—AFP
