Asia-Pacific markets were lower on Wednesday, with Japan’s Nikkei leading losses in the region.
The Nikkei 225 index parted with 539.39 points, or 1.5%, to 35,619.77, its eighth straight losing day.
Traders in Asia parsed economic data from Japan and South Korea.
The Reuters Tankan survey, a monthly poll that tracks business sentiment in Japan, showed that business confidence in big manufacturers dipped to plus 4 in September, a seven-month low, from plus 10 in August. The sentiment for non-manufacturers declined for a third consecutive month to plus 23, from plus 24.
Bank of Japan board member Junko Nakagawa said Wednesday the central bank would continue to raise interest rates if the economy and inflation move in line with the bank’s forecasts.
The Japanese yen strengthened to its highest level since January against the U.S. dollar to trade at 141.68.
The U.S. Federal Trade Commission has warned Japanese retail company Seven & i that it may probe its potential deal with Canada’s Alimentation Couche-Tard (T.ATD)
Seven & i recently rejected Couch-Tard’s proposal, partially over U.S. antitrust concerns. The company’s shares fell nearly 2% Wednesday morning.
In Hong Kong, the Hang Seng Index jettisoned 125.38 points, or 0.7%, to 17,108.71.
South Korea reported that unemployment fell to 2.4% in August, the lowest level since 1999, when the data series commenced, according to Statistics Korea.
Chipmaking powerhouse Taiwan Semiconductor Manufacturing Corp announced its August revenue of 250.87 billion New Taiwan Dollars ($7.8 billion U.S.), increasing 33% year-on-year while dropping 2.4% from July.
The company’s shares declined marginally after the monthly revenue release.
Investors also assessed the U.S. presidential debate between Republican presidential nominee Donald Trump and Democratic Vice President Kamala Harris. The two presidential candidates have yet to agree on a second debate, meaning the event might have been their only face-off before Election Day.
In other markets
In Shanghai, the CSI 300 slid 8.63 points, or 0.3%, to 3,186.13.
In Taiwan, the Taiex index skidded 33.08 points, or 0.2%, to 21,031.
In Singapore, the Straits Times Index gained 18.5 points, or 0.5%, to 3,531.17.
In Korea, the Kospi index dropped 10.06 points, or 0.4%, to 2,513.17.
In New Zealand, the NZX 50 demurred 0.48 points to 12,632.35.
In Australia, the ASX 200 sank 24.07 points, or 0.3%, to 7,987.87.
