Investing.com – Asian stock markets were broadly lower on Wednesday, as a lack of progress over raising the U.S. debt ceiling before a looming deadline raised fears over a possible U.S. sovereign debt default, while Japanese exporters were pressured by a rising yen.
During late Asian trade, Hong Kong's Hang Seng Index dipped 0.15%, Australia’s ASX/200 Index dropped 0.85%, while Japan’s Nikkei 225 Index retreated 0.5%.
With time running out, U.S. Republican leaders delayed a key vote in the House of Representatives on a plan to increase the country’s USD14.3 trillion debt limit until Thursday at the earliest, adding to investors’ nervousness over a possible sovereign debt default.
Shares in Japanese exporters came under pressure after the yen climbed to a four-month high against the U.S. dollar, dampening the outlook for export earnings.
Consumer electronics giant Sony saw shares fall 1.45%, Nintendo shares slumped 1.3%, while automakers Honda and Toyota dropped 1.7% and 1.2% respectively.
Troubled power plant operator Tokyo Electric Power Company saw shares plunge 15.8% amid reports that a local government official would not approve reactor restarts at the utility’s Kashiwazaki Kariwa nuclear plant.
The news weighed on other shares in the sector, with Kansai Electric Power Company dropping 3.75%, Tohoku Electric Power Company shares falling 4.7%, while Chubu Electric Power Company declined 2.6%.
In Hong Kong, shares in exporters with high exposure to the U.S. and Europe declined, amid the uncertain global economic outlook.
Shares of Li & Fung, which is the world’s biggest supplier of toys to major U.S. retailers, retreated 1.4%, while shares in Esprit Holdings, the Hong Kong-based retailer that counts Europe as its largest market fell 1.5%
The outlook for European stock markets was modestly lower. The EURO STOXX 50 futures pointed to a loss of 0.35%, France’s CAC 40 futures slipped 0.1%, the FTSE 100 futures edged 0.1% lower, while Germany's DAX futures shed 0.05%.
Later in the day, the U.S. was to publish official data on durable goods orders, as well as government data on crude oil stockpiles, while the Federal Reserve was to publish its Beige Book.
During late Asian trade, Hong Kong's Hang Seng Index dipped 0.15%, Australia’s ASX/200 Index dropped 0.85%, while Japan’s Nikkei 225 Index retreated 0.5%.
With time running out, U.S. Republican leaders delayed a key vote in the House of Representatives on a plan to increase the country’s USD14.3 trillion debt limit until Thursday at the earliest, adding to investors’ nervousness over a possible sovereign debt default.
Shares in Japanese exporters came under pressure after the yen climbed to a four-month high against the U.S. dollar, dampening the outlook for export earnings.
Consumer electronics giant Sony saw shares fall 1.45%, Nintendo shares slumped 1.3%, while automakers Honda and Toyota dropped 1.7% and 1.2% respectively.
Troubled power plant operator Tokyo Electric Power Company saw shares plunge 15.8% amid reports that a local government official would not approve reactor restarts at the utility’s Kashiwazaki Kariwa nuclear plant.
The news weighed on other shares in the sector, with Kansai Electric Power Company dropping 3.75%, Tohoku Electric Power Company shares falling 4.7%, while Chubu Electric Power Company declined 2.6%.
In Hong Kong, shares in exporters with high exposure to the U.S. and Europe declined, amid the uncertain global economic outlook.
Shares of Li & Fung, which is the world’s biggest supplier of toys to major U.S. retailers, retreated 1.4%, while shares in Esprit Holdings, the Hong Kong-based retailer that counts Europe as its largest market fell 1.5%
The outlook for European stock markets was modestly lower. The EURO STOXX 50 futures pointed to a loss of 0.35%, France’s CAC 40 futures slipped 0.1%, the FTSE 100 futures edged 0.1% lower, while Germany's DAX futures shed 0.05%.
Later in the day, the U.S. was to publish official data on durable goods orders, as well as government data on crude oil stockpiles, while the Federal Reserve was to publish its Beige Book.