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Japanese stocks started the day on Wednesday with declines, following the drop in Wall Street, as concerns arose about the impact of higher interest rates on economic growth due to weak consumer data.
In early trading, the benchmark Nikkei 225 index fell by 0.94%, equivalent to 304.96 points, landing at 32,010.09. Simultaneously, the broader Topix index also decreased by 0.77%, shedding 18.16 points, closing at 2,353.78.
South Korea’s KOSPI index showed a 0.41% decline, losing 10.82 points, and reaching 2,452.07. Australia’s S&P ASX100 experienced a 0.22% decrease, shedding 13 points to reach 5,899.50.
Investor sentiment appears to be fragile and weak. The previous day, all three major U.S. equity indices suffered losses exceeding 1%. The Dow Jones Industrials had its worst day since March, while the S&P 500 and Nasdaq were both on course for their largest monthly declines this year, at 5% and 7%, respectively.
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