Asian markets declined in the initial session of trade on Wednesday (July 02) on concern that rising inflation and slowing economic growth will reduce consumer expending and reduce demand for goods.
Nippon Yusen K.K. declined in Tokyo after the price of shipping bulk commodities declined.
BHP Billiton declined after Credit Suisse Group reduced its earnings estimate for rival aluminum producers Alcoa and Century Aluminum.
Japanese benchmark index Nikkei lost 131.22 points, or 0.97%, to trade at 13,331.
Hong Kong`s Hang Seng Index lost 221.05 points, or 1%, to trade at 21,880.96.
China`s Shanghai Composite rose 5.38 points, or 0.20%, to trade at 2,656.99.
Taiwan`s Taiex index rose 23.53 points, or 0.32%, to trade at 7,431.51.
South Korea`s Kospi index fell 26.13 points, or 1.57%, to trade at 1,640.33.
Singapore`s Straits Times rose 13.55 points, or 0.47%, to trade at 2,920.34. (8.05 a.m., IST)
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