Stocks in the Asia-Pacific region closed in the red as Fed officials cooled their hopes of cutting interest rates

Sina Financial News The three major U.S. indexes all fell more than 1% overnight, as the Asia-Pacific stock market fell as Federal Reserve officials cooled their hopes of cutting interest rates. Japanese stocks fell nearly 2%, falling below the 39,000-point mark. The Nikkei Stock Average opened lower, down as much as 998 points or 2.51% to a low of 38,774 points, and closed the day at 38,992 points, down 781 points or 1.96%. Japanese stocks fell 3.41% for the week, recording losses for the second consecutive week. South Korean stocks fell 1%, with South Korea’s Seoul Composite Index closing at 2,714 points, down 27 points or 1.01%. The Australian stock market was soft, with the Australian Common Equity Index closing at 8,026 points, down 46 points or 0.58%.