Investing.com - Asian stocks fell on Wednesday on fears Spanish financial woes could get worse and threaten the overall economy in Europe, one of Asia's top trading and financial partners.
During Asian trading on Wednesday, Hong Kong's Hang Seng Index was down 2.20%, Australia's S&P/ASX200 was down 0.90%, while Japan’s Nikkei 225 Index was down 0.98%.
Unsettling reports out of Spain sent Asian bourses falling early in the session.
The country is planning a EUR19 billion bailout for the Bankia financial institution, and regional governments may need bolstering as well.
Yields in Spanish government debt auctions have spiked close to 7 percent, and talk more rescue funding may be needed from a government already battling enormous borrowing costs sent Asian stock prices tumbling.
European woes offset talk China will stimulate its economy down the road to spur more growth.
In Hong Kong, the top decliners included Cheung Kong, down 4.75%, Hutchinson, down 4.63%, and CNOOC, down 4.48%.
In Australia, the top decliners included Sigma Pharmaceuticals, down 5.60%, Beadell Resources, down 5.56%, and OceanGold Corp., down 5.54%.
European stock futures indicated a lower opening.
France's CAC 40 futures pointed to a loss of 0.72%, while Germany's DAX 30 futures signaled a loss of 0.73%. Meanwhile, in the U.K., the FTSE 100 futures indicated a loss of 0.68%.
Dow Jones Industrial Average futures were down 0.46% while the S&P 500 futures were down 0.64%.
On Wednesday in the U.S., pending homes sales figures are due out as are numbers on mortgage applications.
In Europe, European Central Bank President Mario Draghi is due to speak in public.
During Asian trading on Wednesday, Hong Kong's Hang Seng Index was down 2.20%, Australia's S&P/ASX200 was down 0.90%, while Japan’s Nikkei 225 Index was down 0.98%.
Unsettling reports out of Spain sent Asian bourses falling early in the session.
The country is planning a EUR19 billion bailout for the Bankia financial institution, and regional governments may need bolstering as well.
Yields in Spanish government debt auctions have spiked close to 7 percent, and talk more rescue funding may be needed from a government already battling enormous borrowing costs sent Asian stock prices tumbling.
European woes offset talk China will stimulate its economy down the road to spur more growth.
In Hong Kong, the top decliners included Cheung Kong, down 4.75%, Hutchinson, down 4.63%, and CNOOC, down 4.48%.
In Australia, the top decliners included Sigma Pharmaceuticals, down 5.60%, Beadell Resources, down 5.56%, and OceanGold Corp., down 5.54%.
European stock futures indicated a lower opening.
France's CAC 40 futures pointed to a loss of 0.72%, while Germany's DAX 30 futures signaled a loss of 0.73%. Meanwhile, in the U.K., the FTSE 100 futures indicated a loss of 0.68%.
Dow Jones Industrial Average futures were down 0.46% while the S&P 500 futures were down 0.64%.
On Wednesday in the U.S., pending homes sales figures are due out as are numbers on mortgage applications.
In Europe, European Central Bank President Mario Draghi is due to speak in public.