Mid-week gloom hits Asian markets

EQUITY markets in Asia continued to slide on Wednesday as US markets had a lacklustre showing overnight following the Labor Day break. Investors remain braced for the possibility of US tariffs on China to take effect while the state of the global economy has also kept them from making big moves.

These, said Pan Jingyi, market strategist at IG, "paint an uncertain picture ahead". She added: "With the US-China trade dispute seen as the biggest risk currently for markets, the risk-averse behaviour should not come as a surprise."

Emerging market currencies - mostly with heavy current account deficits - continued to slide as the US dollar strengthened for a fifth session.