Asian equities were under pressure on Wednesday due to rising geopolitical risks and an on-going prospect that the Federal Reserve would regulate a more rigid monetary policy net week.
Japan’s Nikkei 225 is already facing its third straight session of declines by settling at 0.47 percent or 90.1 points at 19,254. The country’s gross domestic product (GDP) for the fourth quarter was altered more than 1.2 percent compared to the prior figure of 1 percent, as capital expenses grew at its rapid pace in three years.
South Korea’s Kospi was slightly up by 0.06 percent or 1.4 points at 2,095.4 as traders kept an eye on the expected Constitutional Court announcements about whether it will deliver it ruling on President Park Geun-hye’s impeachment.
The Shenzen composite settled 0.36 percent or 7.3 point flat by 2,024.28 and the Shanghai composite ended nearly low at 3,241.18; Hong Kong’s Hang Seng index edged up by 0.36 percent.
Mainland markets in China ended up diverse right after a rare trade shortfall in terms of yuan. According to an official data, exports that are yuan-labeled rose 4.2 percent compared last year. However, imports had risen 44.7 percent year-on-year.
In Australia, the ASX 200 declined 0.03 percent or 1.73 points to end at 5,759.7 with huge losses in its materials sub-index, which was down 0.81 percent.
Geopolitical risks are rising in Asia due to the arrival of the very first Terminal High-Attitude Are Defense (THAAD) South Korean anti-missile system, deployed by the U.S. The deployment of the system brought up a firm reproach from China, even though the U.S. state department claimed it has told China that the opening of the THAAD anti-missile system is zero threat, rather a response to North Korea’s newest missile test.
Foreign exchange reserves in China surprisingly edged up for the first time in over eight months in, according to the government data last Tuesday. China’s reserves gained $3.005 trillion in February, unlike the previous month when reserves declined to $2.998 trillion.