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Asia Falls Ahead of Fed Beige Book

Markets in Asia-Pacific fell on Wednesday as investors anticipate the Federal Reserve to give its summary on current economic conditions, also known as the Beige Book.

The Nikkei 225 faltered 196.21 points, or 0.7%, to 27,430.30.

The Japanese yen stood at 143.5 against the greenback, while the Korean won was 1,386.38.

In Hong Kong, the Hang Seng index swooned 158.43 points, or 0.8%, to 19,044.30.

CHINA

In Shanghai, the CSI 300 gained 2.7 points, or 0.1%, to 4,054.98.

China’s exports grew 7.1% in August from a year earlier, missing estimates of 12.8% forecasted in a Reuters poll, after growing 18% in July.

The offshore Chinese yuan weakened further to 6.99.

In other markets

In Taiwan, the Taiex slumped 267.15 points, or 1.8%, to 14,410.05

In Korea, the Kospi index dumped 33.56 points, or 1.4%, to 2,376.46

In Singapore, the Straits Times Index settled 13.35 points, or 0.4%, to 3,210.83.

In Australia, the ASX 200 faded 97.2 points, or 1.4%, to 6,729.34.

In New Zealand, the NZX faltered 50.93 points, or 0.4%, to 11,548.30