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Asian shares weaker in follow-on to Wall Street, eyes on Fed ahead

Published 01/27/2015, 10:45 PM
Updated 01/27/2015, 10:47 PM
© Reuters. Asian shares weaker

Investing.com - Asian stock markets fell on Wednesday followed Wall Street lower, though Apple Inc provided some relief after the bell as record sales of its iPhone line helped it beat expectations and investors looked ahead to the Federal Reserve for guidance on interest rates.

In Asia, Australia's main index, the S&P/ASX 200 eased 0.4% while the Nikkei 225 was down 0.8%. Chinese shares also headed lower with the Shanghai Composite down 0.8% to 3,325.26.

In Hong Kong, the Hang Seng index was lower by 0.3% to 24,730.63.

Australian shares headed lower after data showed that inflation rose at its slowest annual pace in two and half years in the fourth quarter as fuel prices plunged. But, core inflation increased by 0.7% which was above expectations, dashing hopes for a near-term interest rate cut.

In South Korea, shares were lower after closing at a one-month high in the previous session. The benchmark Kospi index was down 0.2% to 1,949.11.

Overnight, U.S. stocks were lower after the close on Tuesday, as losses in the Technology, Industrials and Consumer Goods sectors led shares lower.

At the close in New York, the Dow Jones Industrial Average fell 1.65%, while the S&P 500 index declined 1.34%, and the NASDAQ Composite index fell 1.89%.

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