Asian stocks slipped for the first time this week, led by automakers and electronic companies, after the yen strengthened against the dollar and on belief that further interest rate cuts in US won`t prevent global growth from slowing.
Japanese benchmark index Nikkei declined 208.06 points, or 1.49%, to trade at 13,823.24.
Hong Kong`s index Hang Seng declined 115.40 points, or 0.47%, to trade at 24,368.44.
China`s Shanghai Composite was trading lower by 57.97 points, or 1.35%, at 4,275.30.
South Korea`s KOSPI rose marginally by 0.21 points, or 0.01%, to trade at 1,721.10.
Singapore`s Straits Times was down 29.45 points, or 0.95 at 3,065.00.
Indian ADRs end lower
US stocks rose on Wednesday (February 27), after regulators allowed Fannie Mae and Freddie Mac to buy more mortgages and Federal Reserve Chairman Ben Bernanke said that the central bank will remain vigilant about the weakened economy.
The Dow Jones industrial average rose 9.36 points, or 0.07%, to 12,694.28. The NASDAQ composite index added 8.79 points, or 0.37%, to 2,353.78.
The yield on the benchmark 10-year Treasury note, which move opposite to its price, fell to 3.85% from 3.86% late Tuesday.
Majority of Indian ADRs ended on a negative note on Wednesday, barring HDFC Bank, Satyam and Dr Reddy`s that ended higher 2.76% at USD 116.3, 0.60% at USD 26.90 and 0.42% at USD 14.38.
Losers:
| Company | USD | % Decline |
| Sterlite | 21.06 | 0.85 |
| ICICI Bank | 55.74 | 1.01 |
| Wipro | 12.29 | 0.16 |
| Infosys | 42.00 | 0.97 |
| Tata Motors | 18.02 | 0.66 |
| MTNL | 6.25 | 1.42 |
| Tata Communications | 25.50 | 1.47 |
| Patni Computers | 12.95 | 1.82 |
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