Market Report – Asia Shares Dip on U.S. Economic Data

In today’s Market Report… Asian shares traded lower after losses on Wall Street. It comes as investors took profits ahead of the U.S. Federal Reserve’s prospects for the world’s largest economy.

A weaker Wall Street contributed to the selling mood, while further jitters about a Chinese monetary tightening weighed on Hong Kong and Shanghai.

In Tokyo the Nikkei pulled back from 10-month highs as a strong yen hurt exporters and declines in metals prices hit trading houses.

Sharp declined after the LCD panel maker’s supplier Corning halted production at a factory in central Japan after Tuesday’s earthquake.

In Seoul the benchmark was lower, but LG Display gained on the shutdown news in Japan. Investors think it may deepen an ongoing shortage and fuel more orders to Korean display makers.

In Australia, the Commonwealth Bank rose after beating forecasts with a small second half profit, helping the Sydney index.

The results underscored relative strength in Australian banks, although the nation’s No.3 lender said significant risks in the nation’s economy still exist.

(NTDTV)