Investing.com – Asian stock markets were broadly lower on Wednesday, as market sentiment was weighed by reports that higher-than-allowed levels of radioactive iodine had turned up in Tokyo tap water.
During late Asian trade, Hong Kong's Hang Seng Index shed 0.25%, South Korea's Kospi Composite eased down 0.07%, while Japan’s Nikkei 225 dropped 1.65%.
Earlier in the day, a Tokyo city official warned that higher-than-allowed levels of radioactive iodine were found in the city’s water and advised parents against giving tap water to infants.
Meanwhile, the Japanese government said that the economic cost of the March 11 quake and tsunami could exceed JPY25 trillion.
Tokyo Electric Power Co., operator of the stricken Fukushima Daiichi power plant, saw shares tumble 4.5% after it said engineers were unable to restore power to the damaged reactors at the site.
Japan’s largest automaker Toyota saw shares slump 1.2% after extending production halts at its Japanese factories until March 26. Shares in rival Honda sank 1.75%, while Nissan lost 2.9%.
Elsewhere, shares of medical equipment maker Terumo tumbled 4.1% after it downgraded its full-year earnings outlook, citing the impact on production due to the quake and rolling blackouts.
In Australia, shares of the nation’s second largest airliner Virgin Blue Holdings plunged 6% after it lowered its earnings outlook for the current quarter, citing higher fuel prices and the effects on tourism from last month’s Cyclone Yasi and the Christchurch earthquake in New Zealand.
The outlook for European equity markets, meanwhile, was downbeat. The EURO STOXX 50 futures pointed to a decline of 0.45%, France’s CAC 40 futures indicated a loss of 0.4%, the FTSE 100 futures shed 0.2%, while Germany’s DAX futures pointed to a drop of 0.55%.
Later in the day, the U.S. was to publish official data on new home sales, while Chairman of the Federal Reserve, Ben Bernanke was to deliver a speech at a public engagement.
During late Asian trade, Hong Kong's Hang Seng Index shed 0.25%, South Korea's Kospi Composite eased down 0.07%, while Japan’s Nikkei 225 dropped 1.65%.
Earlier in the day, a Tokyo city official warned that higher-than-allowed levels of radioactive iodine were found in the city’s water and advised parents against giving tap water to infants.
Meanwhile, the Japanese government said that the economic cost of the March 11 quake and tsunami could exceed JPY25 trillion.
Tokyo Electric Power Co., operator of the stricken Fukushima Daiichi power plant, saw shares tumble 4.5% after it said engineers were unable to restore power to the damaged reactors at the site.
Japan’s largest automaker Toyota saw shares slump 1.2% after extending production halts at its Japanese factories until March 26. Shares in rival Honda sank 1.75%, while Nissan lost 2.9%.
Elsewhere, shares of medical equipment maker Terumo tumbled 4.1% after it downgraded its full-year earnings outlook, citing the impact on production due to the quake and rolling blackouts.
In Australia, shares of the nation’s second largest airliner Virgin Blue Holdings plunged 6% after it lowered its earnings outlook for the current quarter, citing higher fuel prices and the effects on tourism from last month’s Cyclone Yasi and the Christchurch earthquake in New Zealand.
The outlook for European equity markets, meanwhile, was downbeat. The EURO STOXX 50 futures pointed to a decline of 0.45%, France’s CAC 40 futures indicated a loss of 0.4%, the FTSE 100 futures shed 0.2%, while Germany’s DAX futures pointed to a drop of 0.55%.
Later in the day, the U.S. was to publish official data on new home sales, while Chairman of the Federal Reserve, Ben Bernanke was to deliver a speech at a public engagement.