Asian stock markets were generally down on Wednesday with investors taking a cautious view on the global economic outlook after negative figures from the United States.
Japan's Nikkei headline index fell 0.88 per cent, or 82.10 points, to 9255.94 by lunch after data from the Institute for Supply Management suggested the US service sector had suffered a sharper-than-expected slowdown in June.
The Topix index of all first-section shares sank 0.84 per cent.
Investors were also put off by the yen's continued strength, which is a handicap for exporters. Honda tumbled 2.33 per cent, Sony 2.33 per cent and Canon 1.04 per cent.
Sydney's S&P/ASX 200 was down 0.78 per cent, or 33.4 points, in the afternoon at 4242.7 after strong gains the previous day.
"Equity markets are pricing in a very pessimistic or 'worst case' view of global economic growth, more so than the bond markets," IG Markets Institutional Dealer Chris Weston said.
Hong Kong was down 1.05 per cent, or 210.22 points, at 19,873.90 mid-morning due to profit-taking and a muted performance in Shanghai.
Steel-industry equipment maker Sinoref was down 2.6 per cent on its debut, amid predictions that AgBank shares may face a bumpy ride on its mega-flotation this month.
Shanghai was flat in early trade as gains in cement stocks offset losses for some banks, dealers said. The Shanghai Composite Index, which covers both A and B shares, was down 0.05 per cent, or 1.28 points, at 2408.15.
Singapore's Straits Times Index was down 0.17 per cent at 2,863.15.
Earlier US markets managed to break a week-long losing streak, with the Dow Jones Industrial Average rising 0.59 per cent, or 57.14 points, to close at 9743.62.
The tech-rich Nasdaq composite index rose 0.10 per cent, or 2.09 points, to 2093.88.
The US Institute for Supply Management Tuesday said its non-manufacturing index showed a steeper-than-expected fall in June, sparking fresh jitters over the world's largest economy.
The index fell to 53.8 points from 55.4 in May. Most economists had expected the June figure to be at 55.0.
Any figure over 50 per cent signifies growth.
In Tokyo the dollar edged up against other currencies as investors adjusted positions after the greenback's sharp falls overnight.
The euro bought $US1.2608 in Tokyo morning trade after surging to $US1.2623 in New York late Tuesday. Against the Japanese currency the euro was at 110.40 yen from 110.50. The dollar firmed to 87.56 yen from 87.47 yen.
Oil prices edged up in tepid Asian trade after recent falls caused by US economic concerns, analysts said.
New York's main contract, light sweet crude for delivery in August, rose 13 cents to $US72.11 a barrel. Brent North Sea crude for August delivery gained 19 cents to $US71.64.
Gold opened at $US1195 an ounce in Hong Kong, down from Tuesday's close of $US1208.
AFP