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Asia stocks down as Fed holds off on new stimulus
Asian stocks fell Wednesday after the Federal Reserve offered no new initiatives to help a slowly recovering U.S. economy.
Japan’s Nikkei 225 index fell 0.6 per cent to 8,498.63. South Korea’s Kospi lost 0.5 per cent at 1,854 and Hong Kong’s Hang Seng shed 0.7 per cent to 18,326.98. Australia’s S&P/ASX 200 slipped 0.2 per cent to 4,184.80. Benchmarks in Singapore and Taiwan fell while mainland China rose.
U.S. stocks gave up gains Tuesday after the Fed released a policy statement that made clear it was not offering any new steps to help the economy.
The Dow Jones industrial average fell 0.6 per cent to close at 11,954.94. The Standard & Poor’s 500 index fell 0.9 per cent to 1,225.73. The Nasdaq composite fell 1.3 per cent to 2,579.27.