Asian stock markets close lower except for China

By Tuba Sahin

ANKARA (AA) – Major Asian stock markets closed Wednesday mostly lower ahead of the release of the US Federal Reserve beige book and amid China's disappointing trade figures.

Chinese exports rose 7.1% year-on-year in August, missing a market forecast of a 12.8% rise, slowing from 18% growth in July. The offshore yuan weakened below 7 per dollar, its lowest since July 2020.

The Fed’s Beige Book is set to be released later Wednesday, a summary of 12 US district reports of current economic conditions.

The Asia Dow, which includes blue-chip companies in the region, dropped 1.94% or 60.22 points to 3,044.22

Tokyo's Nikkei 225 stock exchange fell 0.71% or 196.2 points to 27,430.30.

The Hang Seng, the benchmark for blue-chip stocks trading on the Hong Kong stock exchange, lost 0.83% or 158.4 points to 19,044.30.

The Indian Sensex benchmark declined 0.28% or 168 points to end the day at 59,028.91 points, while the Singapore index was down 0.41%, or 13.3 points, to close at 3,210.83.

On the other hand, China's Shanghai Stock Exchange rose slightly, 0.09%, or 2.85 points to close at 3,246.29.