The Asian markets opened lower as the US markets extended its loosing streal for the fifth consecutive day on mounting concerns about the economy after bearish comments from Federal Reserve Chairman Ben Bernanke.
Among the Asian indices, Japenese stocks slipped lower by 0.5% on renewed selling from the utilities sector. Also the losses registered by the car makers dragged the markets.
Shanghai Composite and Hang Seng are the other major losers shedding 0.9% each. This was the fourth consecutive day with the Hang Seng losing its ground.On the Chinese front, investors have been fretting about the monetary tightening policy as the China is dedicated to reign in inflation.
However, KLSE Composite and NZSE are an exception trading in the green adding 0.06% and 0.6% respectively.