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02-May2018

Asian markets trade lower in early deals on Wednesday

All of the Asian equity benchmarks are trading lower in the early deals on Wednesday, while the dollar traded near a four-month high as investors await the Federal Reserve's upcoming policy statement for clues on the future pace of US monetary tightening. The Japanese market dipped into negative territory after opening higher, with the mixed cues from Wall Street and the fall in crude oil prices weighing on investors' sentiments. Investors also turned cautious ahead of the US Federal Reserve's monetary policy decision due later in the day. Meanwhile, China stocks, which resumed trading after the Labour Day holiday, fell as investors braced for trade talks between US and Chinese officials amid concerns over economic growth.

Nikkei 225 dropped 68.45 points or 0.3% to 22,439.58, Hang Seng slipped 185.72 points or 0.6% to 30,622.73, FTSE Bursa Malaysia KLCI declined 23.57 points or 1.26% to 1,846.80, Shanghai Composite contracted 11.78 points or 0.38% to 3,070.45, Taiwan Weighted declined 11.57 points or 0.11% to 10,646.31, KOSPI Index crumbled 9.71 points or 0.39% to 2,505.67, Jakarta Composite decreased 5.56 points or 0.09% to 5,989.03, and Straits Times down by 0.85 points or 0.02% to 3,613.08.


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