Asia Markets: Asian stocks slump as investors remain cautious

Shares in Asia were mostly lower Thursday, with markets cautious ahead of the U.S. Federal Reserve’s Jackson Hole symposium — which starts later in the trading day — sidelining investors.

The Nikkei Stock Average NIK, -0.28% was down 0.3% at 16,551.79 points, tracking declines in the U.S. market. The Hang Seng Index HSI, +0.06% was down 0.2%, the Shanghai Composite Index SHCOMP, -0.99% was 1% lower and the Kospi SEU, +0.04% was 0.2% lower.

As has been the case all week, traders are focused on what U.S. Fed Chairwoman Janet Yellen will say at her speech at Jackson Hole on Friday, where many hope for a glimmer of guidance as to when the world’s biggest economy will next raise interest rates.

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