Asia-Pacific markets largely fell Wednesday as investors look ahead to the U.S Federal Reserve’s policy decision overnight.
Markets in Japan were shuttered for holiday. Markets in mainland China remained shuttered from the May Day holiday.
In Hong Kong, the Hang Seng took a header, losing 234.65 points, or 1.2%, to 19,699.16, led by energy, industrials and healthcare stocks, while the Hang Seng Tech index slid 1.9%.
Most economists surveyed by Reuters said said they expect the Fed to hike rates by 25 basis points, with the remainder forecasting a pause.
Australia’s preliminary retail sales rose 0.4% month-on-month in March, ticking higher than February’s rise of 0.2%, government data showed Wednesday.
Discretionary retail seemed to be more under pressure with household goods falling 0.4%, as well as clothing, footwear, and personal accessories dropping 1%. Department store retailing also saw a contraction of 0.2% compared to a month ago.
Headline retail sales growth was mostly led by food retailing, driven by high food inflation seen in the Australian economy.
In other markets
In Singapore, the Straits Times index shed 19.98 points, or 0.6%, to 3,262.01.
In Korea, the Kospi dropped 22.99 points, or 0.9%, to 2,501.40.
In Taiwan, the Taiex index flopped 83.07 points, or 0.5%, to 15,553.41.
In New Zealand, the NZX 50 ditched 129.82 points, or 1.1%, to 11,907.99.
In Australia, the ASX 200 dipped 70 points, or 1%, to 7,197.40.
