Asian stock markets close lower except for China

ANKARA

Major Asian stock markets closed Wednesday mostly lower ahead of the release of the US Federal Reserve beige book and amid China's disappointing trade figures.

Chinese exports rose 7.1% year-on-year in August, missing a market forecast of a 12.8% rise, slowing from 18% growth in July. The offshore yuan weakened below 7 per dollar, its lowest since July 2020.

The Fed’s Beige Book is set to be released later Wednesday, a summary of 12 US district reports of current economic conditions.

The Asia Dow, which includes blue-chip companies in the region, dropped 1.94% or 60.22 points to 3,044.22

Tokyo's Nikkei 225 stock exchange fell 0.71% or 196.2 points to 27,430.30.

The Hang Seng, the benchmark for blue-chip stocks trading on the Hong Kong stock exchange, lost 0.83% or 158.4 points to 19,044.30.

The Indian Sensex benchmark declined 0.28% or 168 points to end the day at 59,028.91 points, while the Singapore index was down 0.41%, or 13.3 points, to close at 3,210.83.

On the other hand, China's Shanghai Stock Exchange rose slightly, 0.09%, or 2.85 points to close at 3,246.29.