Asian Markets Flat

Asian markets opened flat but on a slightly negative note on Wednesday, as crude oil declined from a record high and Japanese steelmakers declined after a report showing that the country`s capital spending declined for a third consecutive quarter. Australia`s third largest oil and gas explorer, Santos lost the most among energy shares. The world`s second-biggest steelmaker, Nippon Steel, declined on Japan`s economic growth concern.

Japanese benchmark index Nikkei declined 27.87 points, or 0.21%, China`s Shanghai Composite fell 33.60 points, or 0.78%, while the Singapore`s Straits Times declined marginally 0.42 points, or 0.01%. Hong Kong`s index Hang Seng rose 16.23 points, or 0.07%, and South Korea`s KOSPI rose 2.04 points, or 0.12%.

Source: Myiris