Asian markets fell in early trading Wednesday, as investors took remained cautious as the world’s economies slowly start reopening from coronavirus-related shutdowns.
Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK +0.72% dropped 0.8%, while Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.99% rose slightly. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +2.01% declined 0.2% while the smaller-cap Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 +1.28% was about flat. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.80% gained 0.1%, while benchmark indexes fell in Singapore /zigman2/quotes/210597985/delayed SG:STI +0.62% and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX +0.14% but rose in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 +0.88% . Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.42% slid 1%.
Stocks on Wall Street sank sharply Tuesday, as the nation’s top public health officials warned of the near-certainty of deadly new coronavirus outbreaks if U.S. businesses open up before it’s safe, while Fed officials warned that the economy was in dire straits if businesses stay shut.
The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.36% fell more than 450 points for its worst one-day percentage loss since May 1. The S&P 500 /zigman2/quotes/210599714/realtime SPX +0.45% and Nasdaq /zigman2/quotes/210598365/realtime COMP 0.00% both lost more than 2%, with the Nasdaq snapping a six-session winning streak.
“Asian stocks are following their U.S. peers lower after warnings against a premature re-opening of the economy and downbeat and unsettling for risk comments from regional Federal Reserve chiefs,” wrote Stephen Innes, chief global markets strategist at AxiCorp, in a note.