Asia stocks down as Fed holds off on new stimulus

December 14, 2011 • Business

A man smokes in Central, business district, with a backdrop of Hong Kong Stock Exchange, right, Tuesday, Dec. 13, 2011. World stock markets vacillated Tuesday as criticism by ratings agencies sparked doubts about a historic European Union plan to fix a massive debt crisis by binding member economies closer together. (AP Photo/Kin Cheung)

BANGKOK (AP) — Asian stocks fell Wednesday after the Federal Reserve refrained from offering new initiatives to help a slowly recovering U.S. economy.

Benchmark oil hovered below $100 per barrel while the dollar rose against the euro but slipped against the yen.

Japan’s Nikkei 225 index fell 0.5 percent to 8,509.24. South Korea’s Kospi lost 0.3 percent at 1,857.85 and Hong Kong’s Hang Seng shed 0.2 percent to 18,404.38. Australia’s S&P/ASX 200 rose 0.1 percent to 4,197.80.

Benchmarks in mainland China, Singapore and Indonesia fell while Login to read more

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