Stocks in Japan, South Korea and Australia saw losses following a Wall Street sell-off that saw the Dow Jones Industrial Average plunge almost 800 points by the close.
Stocks in Asia traded down Wednesday morning after an overnight plunge on Wall Street as investors worried about a potential economic slowdown.
Japan’s Nikkei 225 slipped 1.37 percent minutes after the open while the Topix shed 1.48 percent. The losses were also seen in South Korea, where the Kospi declined by 1.24 percent.
In Australia, the ASX 200 fell 1.31 percent in morning trade, with almost all sectors trading lower. The country is set to release its third quarter gross domestic product data at 8:30 a.m. HK/SIN.
Banking and financial stocks in the region sold off, taking cues from the U. S.
Japan’s Mitsubishi UFJ Financial Group fell 1.87 percent while Nomura declined by 2.66 percent. South Korea’s Shinhan Financial Group slipped 0.83 percent.
Australia’s financial subindex was down 1.76 percent as shares of the so-called Big Four banks declined: Australia and New Zealand Banking Group shed 1.44 percent, Commonwealth Bank of Australia declined 1.72 percent, Westpac traded down 1.62 percent while National Australia Bank lost 1.39 percent.
The mainland Chinese markets, closely watched in relation to Beijing’s trade spat with Washington, are set to open at 9:30 a.
