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Asian shares down on global economic worries Japan shares notch ninth day of gains
(about 5 hours later)
Asian markets opened lower after losses for European and US shares as worries about Greece's debt default and potentially higher US interest rates weighed on investor sentiment. Japanese shares ended higher for the ninth consecutive day, but gains were limited as investors worried over Greece's debt talks and potentially higher US interest rates.
The S&P 500 fell to its biggest decline in three weeks after upbeat economic data fuelled expectations that a rate rise could come sooner. Upbeat US economic data has fuelled expectations that a rate rise could come sooner, and on Wall Street the S&P 500 fell 1% on Tuesday.
Japan's benchmark Nikkei 225 index was trading flat at 20,446.07. Despite this, Japan's benchmark Nikkei 225 index closed up 0.2% at 20,472.58.
The dollar was at 123.02 yen, rallying on the solid US economic data. The index is on its longest winning streak since last August.
Minutes from the Bank of Japan's policy meeting on Wednesday also showed that some members said that consumer prices in the world's third largest economy would not meet the central's bank target in the 2017 fiscal year. The dollar was at 123.08 yen, rallying on the solid US economic data.
Chinese shares were trading mixed with Hong Kong's Hang Seng index down 0.5% to 28,109.17, while the Shanghai Composite was higher 0.9% to 4,955.51- bucking the region's trend. Minutes from the Bank of Japan's policy meeting also dented investor sentiment because it showed that some members felt that consumer prices in the world's third largest economy would not meet the central's bank target in the 2017 fiscal year.
Shares in China's top shoemaker Belle International rose more than 3% in Hong Kong, after it said its annual profit rose 8%. Chinese shares were trading mixed. Hong Kong's Hang Seng index was down 0.7% at 28,054.25, while the Shanghai Composite rose 0.8% to 4,950.07.
In Australia, the S&P/ASX 200 was down 0.8% to 5,725.5 points. Investors gave a lukewarm reception to news that index provider FTSE Russell will launch two transitional indexes that include mainland listed shares - a staggered approach that will bring local Chinese shares into its global emerging markets benchmark in two to three years.
Meanwhile, South Korea's Kospi was lower by 1.5% to 2,110.46 - leading the region's losses. Shares in China's top shoemaker Belle International rose more than 3% in Hong Kong after it reported an 8% rise in annual profits.
In Australia, the S&P/ASX 200 closed down 0.9% at 5,724.5, pulled lower by heavyweight stocks in the banking and mining sectors.
South Korean shares saw their biggest daily loss in nearly five months as investors backed off emerging markets on the prospect of rising US rates.
The Kospi closed down 1.7% at 2,107.50, its lowest close since 15 May.