Investors Pull Back from Asian Stocks as U.S. Fed Will Start Tapering Asset Purchase

Stocks in Asia fell in the morning session on Thursday, following the negative trading session in Wall Street last night after the minutes released of U.S. Fed’s meeting in July that expected to start tapering asset purchase this year.

 

As of 9:20 local time in Thailand, Nikkei dropped 0.53%, SSEC dipped 0.61%, HSI fell 1.28%, ASX 200 slipped 0.55% and Kospi decreased 0.86%.

Last night, the Dow Jones Industrial Average fell 382.59 points or 1.08% to close at 34,960.69 points. Meanwhile, S&P 500 decreased 1.07% and Nasdaq dipped 0.89%.

 

The pullback in the U.S. stocks last night came after the minutes of the Fed’s meeting in July was officially released, stating that most U.S. Federal Reserve officials agreed last month that the central bank would start tapering asset purchases this year if the U.S. economy were to evolve broadly as they anticipated.