China's rate increase drags on Asian-Pacific stock markets

HK Central QRC Luk Hoi Tong Bldg n Theatre Lan...                    
Most markets fell Wednesday across Asia-Pacific, with traders encouraged by strong share prices on Wall Street but concerned about fallout from China's rate increase. Japan's Nikkei 225 slipped 0.2%, Australia's S&P/ASX added 0.3% and Hong Kong's Hang Seng Index lost 1.4%. South Korea's Kospi Composite and Taiwan's Taiex dropped 1.2%, while China's Shanghai Composite and Philippine shares slid 0.9%. New Zealand's NZX 50 edged up 0.1%, Singapore's Straits Times Index fell 1.1% and India's Sensex declined 1%. Full story here