Asian stock markets slid on Wednesday

Asian stocks opened lower on Wednesday, as most regional markets were closed for Labour Day, with only Japan and Australia seeing significant trading activity, the Associated Press reported.

The Nikkei 225 in Tokyo inched down by 0.8 per cent after a slight improvement in Japan’s manufacturing data.

The yen weakened further on Wednesday as the US dollar strengthened to 157.89 yen from 157.74 yen.

Australian markets also incurred losses, while other regional markets were closed for holidays.

US stocks capped off their worst month since September 2023. The S&P 500 finished April down 1.6 per cent, the Dow Jones Industrial Average fell 1.5 per cent, and the Nasdaq composite lost two per cent.

Oil prices fell slightly, with benchmark US crude down 76 cents to $ 81.17 a barrel and Brent crude down 72 cents to $86.51 per barrel. The US dollar continued its strength, gaining against the Euro.