Most Asian stocks fell on Wednesday with losses skewed towards financial shares as a rout in U.S. banks spilled over, while investors also turned cautious before the conclusion of a Federal Reserve meeting later in the day.
Oil was little changed on Wednesday after hitting five-week lows in the previous session, as investors priced in expectations for interest rate hikes in the U.S. and Europe and waited for clarity on future policy path.
The dollar was subdued on Wednesday, weighed by bearish U.S. labour market data as investors fretted over the U.S. debt ceiling and banking sector risks, while waiting for the Federal Reserve's policy decision later in the day.
Malaysia’s seasonally adjusted manufacturing purchasing managers’ index (PMI) remain subdued, with the latest data signalling mixed trends at the start of the second quarter of the year.
Inflation expectations in Britain eased in April, bank Citi said on Monday, offering some relief to the Bank of England which is expected to announce a 12th straight interest rate hike next week with investors betting on further increases after that.
Japan’s factory activity contracted for the sixth straight month in April, but the details of a private survey show the manufacturing sector is edging towards stabilisation amid a slower decline in new orders.