Asian stocks fell Wednesday for the fifth day in a row ahead of the U.S. Federal Reserve Bank publishing record of monetary policy amid fears that the bank will soon begin reducing its stimulus program, which will lead to the withdrawal of more capital from Asia.
Blyton fell that represents the largest mining company in the world 2.4 percent after the company announced a decline in its profits for the second half of this year, CNOOC Ltd. rose 4.2 percent in Hong Kong after it recorded the largest Explorer for oil and gas in China better than expected earnings. MSCI index of Asian shares declined 0.7 percent to 130.68 at 12:20 GMT, Hong Kong. The index is trading at its lowest level in six weeks.
The index fell by 3.3 percent over the past four sessions to its lowest closing level since July 9 last year. Kuramucci, the economist at Mizuho Securities, said "Investors are now awaiting the latest record of the meeting of the U.S. Federal Bank in search of evidence, and at the same time, tensions over currencies and stocks in emerging markets makes investors reluctant to take risks."
Shares of Tokyo Electric Power fell 6.2 percent to its lowest level in three years, after the company said its waters contain dangerously high levels of radiation leaking from the tank at the damaged Fukushima nuclear plant in northeastern Japan. The Nikkei fell 0.9 percent to 13277.91 points by mid-morning trading the Tokyo Stock Exchange after the previous session ended on a loss of 2.6 percent, and the decline of Topix index 0.8 percent to 1116.23 points.
Shares of Japanese export companies decreased as the dollar fell against the yen as well as the fall of Toyota Motor Corp., the largest Japanese automaker 2.0 percent. More, shares Honda Motor Corp. declined 1.2 percent. This reduces the high exchange rate of the yen value of profits earned abroad and damaging the competitiveness of Japanese exporters.