By Dow Jones Newswire
Asian stock markets posted broad declines Wednesday, after Wall Street finished weakly and European markets fell further after a pause on Monday.
There were broad declines for Japanese stocks, even though the Nikkei /zigman2/quotes/210597971/delayed JP:NIK +0.03% was only down 0.5%. Shippers, airlines and real-estate firms led the declines, with Mitsui O.S.K. Lines /zigman2/quotes/204152844/delayed JP:9104 +4.61% down 1.8% and Mitsui Fudosan /zigman2/quotes/205394574/delayed JP:8801 +2.67% off 1.6%.
Amid trade and emerging-market worries, there’s also the aftermath of Typhoon Jebi impacting stock sentiment, though few stocks appeared directly affected so far by the damage it caused in Japan.
Jebi, the most powerful typhoon to hit Japan in 25 years killed at least seven people and inflicted widespread damage to Japan’s west coast, and forced the indefinite closure of one of the country’s largest airports.
Some Asian Airports Unprepared for Big Storms
A meteorologist explains why some Asian airports don’t have the necessary equipment to deal with dangerous storms.
After a rebound Tuesday, Hong Kong stocks were underwater again, with tech names leading the pressure. The Hang Seng /zigman2/quotes/210598030/delayed HK:HSI +0.74% was down 2.6%, with Unicom /zigman2/quotes/205091392/delayed HK:762 0.00% down 2.4% and China Telecom /zigman2/quotes/206668971/delayed HK:728 +0.42% down about 1% after jumping Tuesday on the potential of the state-controlled wireless firms merging. Meanwhile, internet giant and index heavyweight Tencent /zigman2/quotes/204605823/delayed HK:700 +2.61% slid 4%, reversing Tuesday’s rebound.
Chinese stocks opened lower after a weeklong losing streak ended Tuesday. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP -0.21% was down 1.7% and the Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 +0.0056% fell 1.6%.
Australia’s benchmark /zigman2/quotes/210598100/delayed AU:XJO +0.38% was down some 1% despite new data that found the economy posted stronger-than-expected second-quarter GDP growth. Stocks were also down in New Zealand /zigman2/quotes/211587880/delayed NZ:NZ50GR -0.63% .
Samsung /zigman2/quotes/209800866/delayed KR:005930 +0.29% sank more than 2%, dragging down South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.76% . Benchmark indexes in Taiwan , Singapore /zigman2/quotes/210597985/delayed SG:STI +0.41% and Malaysia /zigman2/quotes/210598052/delayed MY:FBMKLCI +1.85% also declined.