Tokyo, Japan (BBN)-Asian shares have followed Wall Street lower after the Federal Reserve warned of slowing US growth.
The region’s biggest index, Japan’s Nikkei 225, fell 0.3 per cent to 17,128.15, reports BBC.
Wall Street closed lower despite early gains after the Federal Reserve said it was “closely monitoring” global economic conditions.
The comments by the US central bank are seen as an indication that it thinks the global economic slowdown may continue.
Following the turbulence on global stock markets in recent weeks, traders had hoped for a hint the Fed might hold off on plans to gradually raise interest rates this year.
However, the Fed left all options open, including a rate rise at its next meeting in March.
In China, the Shanghai Composite followed the regional trend and fell 0.8 per cent to 2,713.9 points in early trade, while Hong Kong’s Hang Seng was flat at 19,052.5.
In South Korea, the Kospi index fell by 0.4 per cent to 1,890.5 points.
Shares in Samsung Electronics fell 2.1 per cent after it released disappointing full-year results following tough competition in the smartphone market and weaker demand for its semiconductors.
The electronics giant also warned of possible weaker profits for 2016.
Australia’s ASX 200 managed to beat the trend to rise 0.5 per cent to 4,972.8 points.
Mining stocks BHP Billiton, Rio Tinto, Newcrest and Santos were up by as much as 3 per cent in midday trade.