Business

Japanese shares fall despite stimulus

Nikkei stock board Image copyright AFP

Japanese shares traded lower on Wednesday, continuing a global sell-off on US and European stock markets.

Tokyo's Nikkei 225 closed 1.9% lower at 16,083.11.

Investor mood failed to be lifted by Tuesday's large stimulus package as economists doubt it will have much of an impact on the country's sluggish economy.

Wall Street markets fell on Tuesday, with indexes registering some of their biggest losses in a month.

Elsewhere in Asia, markets also took their lead from Wall Street.

China's benchmark Shanghai Composite edged 0.3% higher to close at 2,978.46, while in Hong Kong, the Hang Seng fell 1.7% to finish at 21,757.19.

Shares in banking giant HSBC ended the trading in Hong Kong up 1.6% despite the weak earnings report released at noon local time.

South Korea's benchmark Kospi dropped 0.9% to wrap trading at 2,000.07.

In Australia, the ASX/200 fell 14% to close at 5,465.70 points.

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