Stock markets from all over Asia prepared for a simultaneous plummet on Thursday in line with Wall Street as the United States central bank announced its initiation of stimulus withdrawal this year, depending on their economy's recovery.
Nikkei futures in Australia and Chicago's share price index futures dipped, signaling weak openings for both, considered to be Asia and the Pacific's main markets.
Several traders indicated that markets could slide even further if an upcoming report on China's factory activity proves the tiger economy's expected downfall.
"Given the market's growing fears over a hard landing for the Chinese economy, a particularly weak number could add to the post-FOMC selling pressure on the emerging currencies as well as the commodity bloc currencies," explained analysts at BNP Paribas.
The hardest currency hit was the Australian dollar, currently being sold as commodity currency and proxy currency for the emerging markets. It is also predicted that Indonesia and Thai currencies are going to be affected.
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