MW: Asia's major markets lower, Japan banks take hit
LOS ANGELES (MarketWatch) -- Benchmark indexes in Tokyo, Sydney and Seoul all traded lower in late-morning action despite some opening gains. Australia's S&P/ASX 200 lost 0.1%, while South Korea's Kospi fell by 1.5%. Japan's Nikkei 225 Average spent the entire morning session in negative territory, ending down 1.4%, with the broader Topix 1000 lower by 1.6%. Financials were among the top loss-leaders in Tokyo, with Mitsubishi UFJ Financial Group (JP:8306 482.00, +1.00, +0.21%) (MTU 5.34, +0.01, +0.19%) falling 5.4%, and Sumitomo Mitsui Financial Group (JP:8411 178.00, +2.00, +1.14%) (SMFJ.Y 3.39, +0.05, +1.50%) down 3.8%, as the Bank of Japan's tankan survey of business sentiment showed that big companies plan to cut capital outlays by more than 10%. Stock markets in Shanghai, Hong Kong and elsewhere in the greater China region were closed for National Day.
