Asian markets lower on Reid comments

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Asian markets lower on Reid comments
Asian markets were trading in the red, after worries over the US fiscal deficit re-surfaced.

US markets lost ground after Senate Majority Leader Harry Reid expressed disappointment that there has been "little progress" in dealing with the "fiscal cliff."

In Asia all of the major markets were down, the Shanghai Composite was lower by 0.69%.Other indices that were down included the Hong Kong's Hang Hang Sang lower by 0.84%, Singapore's Strait Times, Korean Kospi and the Taiwanese Taiwan Weighted. Japan's Nikkei stock fell 0.74% on Wednesday.

While, European stocks on Tuesday ended higher after a deal eurozone and International Monetary fund on debt targets for Greece.

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Read more about: asian, shanghai
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