Investing.com - Asian stock markets were mostly lower on Wednesday, as investors digested a pair of disappointing reports on the Chinese services sector.
During late Asian trade, Hong Kong's Hang Seng Index was down 1.6%, Australia’s ASX/200 Index ended 1.9% higher, while Japan’s Nikkei 225 Index fell 0.3%.
Midway through the session, a report showed that China’s final HSBC Flash Purchasing Managers Index ticked up to 51.3 in June from a flash reading of 51.2.
The data was published less than an hour after a government report showed that China’s manufacturing purchasing managers' index inched down to 53.9 in June from 54.3 in May.
In Hong Kong, the Hang Seng came under heavy selling pressure amid ongoing uncertainty over China’s economic outlook.
The China banking sector were among the biggest drags on the index, with China Construction Bank shares falling 1.5%, Industrial and Commercial Bank of China dropping 2.7% and China Minsheng Bank shedding 3%.
Meanwhile, in Australia, the benchmark ASX/200 Index tumbled following the release of soft retail sales data earlier in the day.
Australia’s Bureau of Statistics said retail sales rose 0.1% in May, disappointing expectations for a 0.3% increase.
Retail giants Myer Holdings and David Jones retreated 2.9% and 2% apiece.
Global miner slumped amid lingering concerns over a deepening slowdown in China.
BHP Billiton saw shares fall 3.2%, Rio Tinto declined 3%, while Fortescue Metals Group dropped 1%.
The big four banks were mostly lower, with National Australia Bank slumping 1.9%, while ANZ Banking Group and Westpac Banking Group tumbled 2.2% and 2.7%.
Elsewhere, in Tokyo, the Nikkei fell for the first time in six days, as investors looked ahead to Friday’s U.S. nonfarm payrolls data, for further clues on when the Federal Reserve may decide to unwind its USD85 billion-a-month stimulus program.
Losses were limited as the yen weakened to a one-month low against the U.S. dollar, with USD/JPY rising to hit a session high of 100.81, the strongest level since May 31.
Looking ahead, European stock market futures pointed to a lower open, as investors awaited central bank meetings and U.S. nonfarm payrolls data later in the week.
The EURO STOXX 50 futures pointed to a loss of 0.7% at the open, France’s CAC 40 futures declined 0.6%, London’s FTSE 100 futures eased down 0.6%, while Germany's DAX futures pointed to a loss of 0.6% at the open.
The euro zone was to release official data on retail sales and revised data on service sector activity later in the day.
The U.S. was to release the ADP report on nonfarm payrolls, as well as the weekly government report on initial jobless claims one day ahead of schedule, and data on the trade balance.
During late Asian trade, Hong Kong's Hang Seng Index was down 1.6%, Australia’s ASX/200 Index ended 1.9% higher, while Japan’s Nikkei 225 Index fell 0.3%.
Midway through the session, a report showed that China’s final HSBC Flash Purchasing Managers Index ticked up to 51.3 in June from a flash reading of 51.2.
The data was published less than an hour after a government report showed that China’s manufacturing purchasing managers' index inched down to 53.9 in June from 54.3 in May.
In Hong Kong, the Hang Seng came under heavy selling pressure amid ongoing uncertainty over China’s economic outlook.
The China banking sector were among the biggest drags on the index, with China Construction Bank shares falling 1.5%, Industrial and Commercial Bank of China dropping 2.7% and China Minsheng Bank shedding 3%.
Meanwhile, in Australia, the benchmark ASX/200 Index tumbled following the release of soft retail sales data earlier in the day.
Australia’s Bureau of Statistics said retail sales rose 0.1% in May, disappointing expectations for a 0.3% increase.
Retail giants Myer Holdings and David Jones retreated 2.9% and 2% apiece.
Global miner slumped amid lingering concerns over a deepening slowdown in China.
BHP Billiton saw shares fall 3.2%, Rio Tinto declined 3%, while Fortescue Metals Group dropped 1%.
The big four banks were mostly lower, with National Australia Bank slumping 1.9%, while ANZ Banking Group and Westpac Banking Group tumbled 2.2% and 2.7%.
Elsewhere, in Tokyo, the Nikkei fell for the first time in six days, as investors looked ahead to Friday’s U.S. nonfarm payrolls data, for further clues on when the Federal Reserve may decide to unwind its USD85 billion-a-month stimulus program.
Losses were limited as the yen weakened to a one-month low against the U.S. dollar, with USD/JPY rising to hit a session high of 100.81, the strongest level since May 31.
Looking ahead, European stock market futures pointed to a lower open, as investors awaited central bank meetings and U.S. nonfarm payrolls data later in the week.
The EURO STOXX 50 futures pointed to a loss of 0.7% at the open, France’s CAC 40 futures declined 0.6%, London’s FTSE 100 futures eased down 0.6%, while Germany's DAX futures pointed to a loss of 0.6% at the open.
The euro zone was to release official data on retail sales and revised data on service sector activity later in the day.
The U.S. was to release the ADP report on nonfarm payrolls, as well as the weekly government report on initial jobless claims one day ahead of schedule, and data on the trade balance.