Major Asia-Pacific markets traded lower on Wednesday, following a selloff on Wall Street and a drop in the banking sector. Recently, Fith Ratings stated that it may have to downgrade the credit ratings of numerous banks, including large lenders such as JPMorgan Chase.
Japan's Nikkei 225 went down by 1.28%, while Australia's S&P/ASX 200 lost 1.48% at 7:06 am CET. South Korea's Kospi decreased by 1.60% a minute later.
In mainland China, the Shenzhen Composite fell 0.19% at 6:52 am CET, and the Shanghai Composite declined 0.36% at 7:08 am CET. On the other hand, Hong Kong's Hang Seng lost 1.38%.
The dollar dropped 0.10% compared to the Japanese yen at 7:09 am CET, trading for ¥145.4370.
