Asian shares lower after weaker US growth data

HONG KONG: Asian markets fell Wednesday, following the lead from Wall Street after revised US growth figures showed the world's number one economy expanded slower than first thought in the third quarter.

Concerns over the eurozone debt crisis also continued to drag on sentiment, despite the International Monetary Fund (IMF) announcing a facility aimed at helping some countries protect themselves from contagion.

Adding to the downbeat mood were preliminary figures out of Beijing showing manufacturing activity in China had slowed at its fastest pace in 32 months.

Hong Kong tumbled 2.15 percent, Sydney shed 1.26 percent and Shanghai was 0.13 percent lower while Seoul dived 1.90 percent.

Tokyo was closed for a public holiday.

"Liquidity remains an issue across many markets and many countries, as volatile markets and uncertain macro-economic conditions mean that investors are once again happy to remain on the sidelines," said Jason Hughes, head of premium client management at IG Markets. (AFP)