Most Asia-Pacific markets opened decrease on Wednesday morning consistent with falling investor confidence that the US will cut rates of interest.
Hong Kong’s Hang Seng index dropped 1 per cent as Alibaba shares continued their slide, declining greater than 2.5 per cent. Tencent stocks fell greater than 1 per cent.
South Korea’s Kospi retreated practically 2 per cent, whereas Australia’s S&P/ASX 200 index declined 1 per cent. China’s CSI 300 was flat, and Japan’s Topix inched up 0.2 per cent.
On Tuesday, the S&P 500 fell 0.6 per cent, dragged down by tech stocks. The tech-heavy Nasdaq Composite slid 1.6 per cent, notching its worst day by day fall since late October.
The US Federal Reserve begins its subsequent two-day curiosity rate-setting assembly on January 30.