Asian shares declined as a cut by China's central bank in the amount of cash some lenders must hold in reserves failed to trigger a rebound in equities, with investors assessing the outlook for global trade.
The MSCI Asia Pacific Index fell 0.8 percent to 167.87 as of 5:01 p.m. in Hong Kong, set to close at its lowest level since December 6. Chinese stocks were the region's worst performers, with the Shanghai Composite Index down 1.1 percent lower and Hong Kong's Hang Seng Index retreating 1.3 percent. Japan's Topix lost 1 percent, dragged down by automakers, while Singapore’ Straits Times Index entered a correction.
Taiex -1%, Kospi index little changed, Kospi 200 index -0.1%, S&P/ASX 200 -0.2%, New Zealand’s S&P/NZX 50 little changed.
Straits Times Index -0.9%, Malaysia’s KLCI -1%, Philippines Stock Exchange PSEi Index -1.1%, Jakarta Composite +0.6%, Thailand SET Index -0.7%, Vietnam’s VN-Index +0.8%.