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| Version 3 | Version 4 |
|---|---|
| Asian stock markets follow Wall Street lower | Asian stock markets follow Wall Street lower |
| (about 2 hours later) | |
| Stock markets across Asia mostly fell on Wednesday, following declines on Wall Street the previous day. | |
| Japan's benchmark Nikkei 225 index ended a six-day winning streak, closing down 1.2% at 20,593.67. | Japan's benchmark Nikkei 225 index ended a six-day winning streak, closing down 1.2% at 20,593.67. |
| Trading saw investors reacting to the resignation of Toshiba chief executive Hisao Tanaka following the company's accounting scandal. | Trading saw investors reacting to the resignation of Toshiba chief executive Hisao Tanaka following the company's accounting scandal. |
| Shares in the firm fell 1.7% following a 6% rise the previous day when the details of the scandal were revealed. | Shares in the firm fell 1.7% following a 6% rise the previous day when the details of the scandal were revealed. |
| An independent investigation found the company had overstated its profits by a total of 151.8bn yen ($1.22bn, £780m) over a six-year period. | An independent investigation found the company had overstated its profits by a total of 151.8bn yen ($1.22bn, £780m) over a six-year period. |
| Volatility eases | |
| Chinese shares closed mixed with the mainland market rising for the fifth consecutive day, while the Hong Kong shares followed the global lead. | |
| The Shanghai Composite ended up 0.2% at 4,026.05, while Hong Kong's Hang Seng index fell 1% to 25,282.62. | |
| Investors were cautious as Shanghai shares have jumped about 20% from the low hit on 9 July and are nearing the key threshold level of 4,500. | |
| This level is seen as the target for the bailout measures rolled out by the government since the market's sharp sell-off, according to analysts. | |
| Australian rate cut? | |
| In Australia, low commodity and gold prices pulled the ASX 200 down 1.6%, with the index closing at 5,614.60. | In Australia, low commodity and gold prices pulled the ASX 200 down 1.6%, with the index closing at 5,614.60. |
| Shares in mining giant BHP Billiton fell 1.9% despite the company saying it had exceeded its production guidance for iron ore. | Shares in mining giant BHP Billiton fell 1.9% despite the company saying it had exceeded its production guidance for iron ore. |
| In its operational review, BHP said it was on track for additional growth in the current year. | In its operational review, BHP said it was on track for additional growth in the current year. |
| The Australian Bureau of Statistics said consumer prices in the second quarter rose 0.7% from the first three months of the year. | The Australian Bureau of Statistics said consumer prices in the second quarter rose 0.7% from the first three months of the year. |
| More importantly though, the annual pace of core inflation at about 2.3% was still well within the central bank's inflation target of 2-3%.. | More importantly though, the annual pace of core inflation at about 2.3% was still well within the central bank's inflation target of 2-3%.. |
| The data provided further evidence that underlying price pressures were easing, said Daniel Martin, senior Asia economist at Capital Economics. | The data provided further evidence that underlying price pressures were easing, said Daniel Martin, senior Asia economist at Capital Economics. |
| "It raises the chances of the central bank cutting rates again, possibly even at its meeting next month." | "It raises the chances of the central bank cutting rates again, possibly even at its meeting next month." |
| In Seoul, South Korea's benchmark Kospi index also finished in negative territory, dropping 0.9% to 2,064.72. | In Seoul, South Korea's benchmark Kospi index also finished in negative territory, dropping 0.9% to 2,064.72. |
| Despite the won being at its weakest level against the dollar in two years, export-focused companies failed to benefit. | Despite the won being at its weakest level against the dollar in two years, export-focused companies failed to benefit. |
| Car makers Kia and Hyundai were both unable to consolidate Tuesday's gains. | Car makers Kia and Hyundai were both unable to consolidate Tuesday's gains. |