Asian equities extended losses into a third session on Wednesday following a selloff on Wall Street overnight and as investors await Chinese data.
Wall Street shares sank overnight with both the Dow and S&P 500 down 0.7 percent while the Nasdaq fell by over 1 percent as investors braced for quarterly earnings. Internet names were hit particularly hard with Twitter slumping over 7 percent.
Asian traders await Chinese inflation data for June, due around 9.30am SIN/HK. Analysts expect a slightly softer reading for consumer price inflation following May’s four-month high while producer prices are seen falling for the 27th straight month.