Asian markets tracked Wall Street lower on Wednesday as enthusiasm for the recent “Trump trade” cooled.
Japan’s Nikkei 225 fell 1.7% to 38,719.60, with wholesale inflation hitting its highest level since July last year. The corporate goods price index, which tracks price changes for goods in the corporate sector, rose 3.4% year-over-year in October, according to the Bank of Japan, partly due to the weakening of the yen against the U.S. dollar.
South Korea’s Kospi dropped 2.6% to 2,417.16, with Samsung Electronics sliding 4.5%, marking its lowest level in over four years.
Hong Kong’s Hang Seng index declined for a fourth consecutive session, down 0.6% to 19,721.10, while the Shanghai Composite gained 0.3% to 3,431.82.
Australia’s S&P/ASX 200 slipped 0.8% to 8,193.40.
On Wall Street, the Dow Jones Industrial Average fell 0.9% to 43,910.98, the S&P 500 dropped 0.3% to 5,983.99, and the Nasdaq Composite edged down 0.1% to 19,281.40.
In the bond market, the yield on 10-year U.S. Treasury notes rose to 4.44%, up from 4.327% on Monday.
