Asian markets end lower on Wednesday

Asian markets ended lower on Wednesday with Chinese and South Korean markets closing for holiday. Market sentiments weakened further by Wall Street’s overnight fall after the Federal Reserve Bank of New York’s latest consumer survey showed deteriorating future expectations and rising inflation projections. Mixed signals from Federal Reserve officials on the pace of interest-rate cuts and concerns about a bubble forming around artificial intelligence (AI) have also kept pressure on the market. Hong Kong shares fell, led by losses in major technology shares with caution ahead of the reopening of mainland Chinese markets after an eight-day National Day holiday. Japanese shares declined even as the Yen remained depressed amid bets that Sanae Takaichi’s policies could delay Bank of Japan rate hikes.