Asian equity benchmarks are trading lower in the early deals on Wednesday following the overnight losses on Wall Street amid worries that US President Donald Trump will face hurdles in delivering promised tax and healthcare reform. While President Donald Trump and Republican leaders have expressed optimism that a bill to repeal and replace Obamacare will pass in an anticipated vote on Thursday, a number of GOP lawmakers remain opposed to the legislation. A failure to approve the Obamacare replacement plan could raise questions about Trump's ability to achieve other policy goals that are popular on Wall Street. Meanwhile, Japan's Nikkei share average skidded taking its cue from a sell-off on Wall Street and a rise in the perceived safe-haven yen.
Nikkei 225 dipped 370.78 points or 1.91% to 19,085.10, Jakarta Composite slipped 30.57 points or 0.55% to 5,512.52, KOSPI Index contracted 14.66 points or 0.67% to 2,163.72, Taiwan Weighted crumbled 84.12 points or 0.84% to 9,888.37, FTSE Bursa Malaysia KLCI declined 15.08 points or 0.86% to 1,739.59, Straits Times dropped 34.58 points or 1.09% to 3,123.99, Shanghai Composite decreased 23.66 points or 0.73% to 3,237.95 and Hang Seng was down by 341.98 points or 1.39% to 24,251.14.