Hong Kong---Asian markets slipped Wednesday after more weak US data raised questions about the health of the world's top economy, while the dollar edged down as an early interest rate rise looks increasingly unlikely.
The euro continued to hold its own, with investors hopeful that Greece will be able to hammer out a bailout reform deal with creditors and avert a default.
Sydney plunged 1.85 percent, or 109.9 points, to 5,838.6, with big banks leading the decline as hopes of another interest rate cut waned. Seoul closed 0.23 percent lower, giving up 5.04 points to 2,142.63.
Hong Kong ended 0.15 percent lower, shedding 42.41 points to 28,400.34, but Shanghai recovered from early losses to close flat -- edging up 0.41 points to 4,476.62.
Tokyo was closed for a public holiday.
With few major catalysts, regional investors are focusing on the Federal Reserve's two-day meeting, which wraps up later in the day.
While the US central bank will not announce any policy move, its statement will be pored over for any guidance on interest rates.
On Tuesday the Conference Board reported its index of consumer confidence tumbled in March instead of rising as expected. Consumers reported growing pessimism about current and short-term US economic conditions.
A series of disappointing indicators has fuelled speculation the US central bank will want to wait to increase rates, which have been pegged at zero since 2008. The Fed had signalled a possible rise as early as June, but analysts now expect it in September at the earliest.
Wednesday will also see the release of the government's first estimate on first-quarter economic growth, with analysts forecasting 1.0 percent, down from a 2.2 percent pace in the previous three months.
However, on Wall Street Tuesday the Dow added 0.40 percent and the S&P 500 rose 0.28 percent. But the Nasdaq eased 0.10 percent.
AFP
