Share this @internewscast.com


SINGAPORE — Asia-Pacific shares fell at the open on Wednesday despite Wall Street recovering most of its losses by the close.

Japan’s Nikkei 225 fell 0.77% and the Topix index slipped 0.72%.

In South Korea, the Kospi declined 0.52% and the Kosdaq shed 0.28%.

The S&P/ASX 200 in Australia lost 0.35%.

MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.16% lower.

Stock picks and investing trends from CNBC Pro:

U.S. stock indexes initially fell sharply on Tuesday stateside before rallying in the afternoon. The Nasdaq Composite ended the session 1.75% higher at 11,322.24, while the S&P 500 was up 0.16% at 3,831.39,

The Dow Jones Industrial Average shed 129.44 points, or 0.4%.

In central bank news, Bank Negara Malaysia is expected to release its monetary policy statement today. Analysts polled by Reuters expect the bank to raise rates by 25 basis points.

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 106.495, jumping from below 105.3 earlier this week.

The Japanese yen traded at 135.52 per dollar, strengthening from more than 136 against the greenback on Tuesday. The Australian dollar weakened to $0.6792 against the stronger U.S. dollar.

“The deteriorating global economy is the main weight on AUD,” Kristina Clifton, an economist at Commonwealth Bank of Australia wrote in a note Wednesday.

In Asia’s morning trade, West Texas Intermediate crude was up 2.11% at $101.60. Brent crude rose 2.33% to $105.16 per barrel.

The U.S. oil benchmark plunged as much as 10%, breaking the $100 level on Tuesday stateside before settling 8.24% lower at $99.50 on the back of recession fears.

International benchmark Brent crude settled 9.45%, or $10.73, lower at $102.77 per barrel.

Share this @internewscast.com
You May Also Like

Stocks fall ahead of inflation prints

SINGAPORE — Asia-Pacific shares fell in early trade on Wednesday as investors…

Japanese shipping giant to take part in tidal power project

Buildings in Singapore at dusk. Asia is already home to a number…

US, Europe, China slowdown could hurt Asian exporters: HSBC

Asian exporters will face significant challenges as demand from major markets like…

Pakistan’s finance minister says country headed in ‘right direction’

Pakistan’s finance minister said the government has taken steps that will put…

SoftBank Vision Fund posts a $21.6 billion quarterly loss

SoftBank’s Vision Fund, the brainchild of the company’s founder Masayoshi Son, has…

India, Australia, Singapore firms jobs are in these sectors: LinkedIn

Recession fears may be looming in Asia-Pacific, but that hasn’t stopped companies…

Stocks little changed; SoftBank drops

SINGAPORE — Shares in the Asia-Pacific were flat Tuesday on a quiet…

SoftBank sells entire stake in Uber as Vision Fund losses mount

SoftBank on Monday disclosed that it sold its remaining stake in U.S.…