hero image

On Wednesday, most of the shares of Asia markets traded down in the afternoon trade. The Nikkei 225 of Japan went 0.7 percent down whereas, Topix index slipped by 0.89 percent.

On the decline of markets, an executive director at Haitong International Securities, Kevin Leung remarked that the Japanese markets are improving from a long-term perspective. He also noted that the economy of Japan is also making improvements and it is not subjected to the trade war of the United States in any sort.

On the other hand, ASX 200 of Australia gained 0. 3 percent along with gaining in shares of gold miners like Newcrest Mining and Evolution Mining, both were higher by 2.85 percent and 3.42 percent, respectively.

In the afternoon, the major share of Hong Kong, Hang Seng index traded down by 0.52 percent.

The shares of Japanese automakers were lower as Toyota fell 2.56 percent down while Honda lost 3.84 percent due to the poor sales in the month of September. The analysts are not worried about these drop-downs in auto sales.

An executive publisher, Karl Brauer of Kelley Blue Book said that the decline is not that bad if not compared to the last year September’s sales, which were higher due to the replacement demand because of Hurricane Harvey.

The shares of Sharp dropped after the company announced that it would launch new smartphones with OLED screen. After the announcement, Sharp fell 1.45 percent down whereas its parent company, Hon Hai Precision Industry declined by 0.51 percent.

The index of U.S. dollar against a basket of major currencies weakened at 95.304 while the Japanese yen was at 113.70 against the dollar. On the other hand, the Australian dollar was also lower at $0.7178 after recovering its earlier gains.