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| Asian markets continue their slide | Asian markets continue their slide |
| (34 minutes later) | |
| Asian markets continued to fall on Wednesday as worries about China's growth took their toll. | |
| Data suggesting China's manufacturing sector was shrinking at its fastest pace in three years ignited a global market sell-off on Tuesday, resulting in US stocks closing down nearly 3%. | Data suggesting China's manufacturing sector was shrinking at its fastest pace in three years ignited a global market sell-off on Tuesday, resulting in US stocks closing down nearly 3%. |
| Japan's benchmark Nikkei 225 index was down 1.3% in early trading at 17,937.3. | Japan's benchmark Nikkei 225 index was down 1.3% in early trading at 17,937.3. |
| It led the region's losses in the previous session, losing nearly 4%. | It led the region's losses in the previous session, losing nearly 4%. |
| Data showing US factory activity fell to a more than two-year low in August added to the already grim sentiment among investors. | |
| Meanwhile, crude oil futures continued downwards after plunging 8% overnight on fears of how slowing Chinese growth would impact demand. | |
| Investors are also bracing for another volatile day of trade in Chinese markets before they close for a two-day holiday to commemorate the end of World War Two. | |
| Growth in focus | |
| Australia's S&P/ASX 200 was lower by 1% at 5,046.7 points as investors awaited economic growth figures for the second quarter, which were due later in the morning session. | Australia's S&P/ASX 200 was lower by 1% at 5,046.7 points as investors awaited economic growth figures for the second quarter, which were due later in the morning session. |
| The economy is expected to have grown 2.2% from a year ago, which is much lower than the mining boom years' average of about 3.3%. | The economy is expected to have grown 2.2% from a year ago, which is much lower than the mining boom years' average of about 3.3%. |
| In South Korea, shares were also lower after government data showed that exports fell 4.3% in July, while imports rose 0.7%. | In South Korea, shares were also lower after government data showed that exports fell 4.3% in July, while imports rose 0.7%. |
| That led the current account surplus to fall to $9.5bn (£6.2bn) in seasonally-adjusted terms from a record high of $10.7bn in June. | That led the current account surplus to fall to $9.5bn (£6.2bn) in seasonally-adjusted terms from a record high of $10.7bn in June. |
| The benchmark Kospi index was down 1.5% at 1,885.31. | The benchmark Kospi index was down 1.5% at 1,885.31. |