Asian Equities Lower Led by Japan

Asian equities declined on Wednesday as trading volumes returned to normal with Japan and South Korea resuming trade following a long weekend.

Technology and social media stocks were in focus following a 1.4 percent drop overnight on the Nasdaq index thanks to a selloff in Twitter. Shares of the social media giant plunged 18 percent overnight as early investors sold shares for the first time after a six month lock up period.

Japan’s benchmark index fell to its lowest level since April 16 on a stronger currency. The yen traded near Tuesday’s three-week high of 101.48 per dollar and is up 0.5 percent in the past week. That weighed on industrial manufacturers since a strong currency hurts their overseas earnings.

CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.