Tokyo, Japan (BBN)-Stock markets in Asia were in negative territory on Wednesday, following declines on Wall Street after the Dow Jones closed down 1 per cent.
Japan’s Nikkei 225 index dropped 1.1 per cent to 20,618.4 points, reports BBC.
However, Toshiba shares continued to rise after chief executive Hisao Tanaka resigned on Tuesday following an accounting scandal.
Shares were up 1.7 per cent after a 6 per cent rise the previous day when the details of the scandal were revealed.
An independent investigation had found the company overstating its profits by a total of 151.8bn yen ($1.22bn, £780m) over the past six years.
In Australia, low commodity and gold prices helped pull the ASX 200 index down 1.1 per cent to 20,618.4 points.
BHP Billiton fell 0.6 per cent despite the company saying it exceeded its production guidance for iron ore.
In its operational review, the mining giant also said it was on track for additional growth in the current year.
Meanwhile, the Australian Bureau of Statistics said that inflation in the second quarter came in slightly below expectations at 1.5 per cent.
In Seoul, South Korea’s benchmark Kospi also was in negative territory, down 0.7 per cent to 2,069.40 points.
Despite the won being at its weakest level against the dollar in two years, export-focused companies failed to benefit.
Car makers Kia and Hyundai were both unable to consolidate Tuesday’s gains.
In China, the Shanghai Composite remained flat in early trade at 4,017.3 points.
Hong Kong’s Hang Seng fell by 0.7 per cent to 25,344.8 points in line with the Asia-wide sell-off.