Wednesday 6 August 2014

Asian Market Update : Epic Research Malaysia

Asian stocks dropped on Wednesday, following a sharp fall on Wall Street over fears of a market correction and concerns the conflict in Ukraine could escalate.

Analysts cited comments by Polish Foreign Minister Radoslaw Sikorski, who said Russia had increased its military presence on the Ukraine border, suggesting the situation could deteriorate.

Hong Kong slipped 0.36 per cent, and Shanghai was 0.64 percent lower, while Seoul dipped 0.10 percent and Sydney was down 0.30 per cent. Tokyo fell one per cent by the break.

"If Poland is indeed right that Russia is about to increase its presence in the east of Ukraine, buyers of all things risk will disappear fast as this is an indefinable outcome for markets," IG strategist Evan Lucas told Dow Jones Newswires.

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