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Hong Kong - Most Asian markets fell again on Thursday, led by a more than one percent loss in Tokyo, ahead of key policy meetings in the United States and Japan next week.
Traders worldwide are focusing on the central bank gatherings, hoping they will clear up some uncertainty about monetary policy in two of the world's biggest economies.
Equity markets have been hit by volatility the past week after two Federal Reserve officials suggested US borrowing rates could rise in September, before another colleague on Monday urged caution ahead of any tightening.
The lack of clear guidance has kept investors on edge, leading to selling.
"With escalating uncertainty surrounding the US and Japan's monetary policies, there's a deep-rooted yearning to cut down on any long position in stocks," Mitsuo Shimizu, deputy general manager at Japan Asia Securities Group, told Bloomberg News.
In Japan, where investors have been left disappointed by a series of weak central bank remedies or lack of action, reports that officials are considering cutting interest rates further into negative territory hammered financial firms.
By the break Tokyo's Nikkei was down 1.2%, heading for a fourth-straight loss. Sydney fell 0.2% and Singapore was off 0.4%, while Wellington and Manila each lost 0.3%.
However, Hong Kong edged up 0.2% after losing almost four percent in the previous three days.
Markets in Shanghai, Seoul and Taipei were closed for public holidays.
"The markets are under pressure," James Audiss, Sydney-based senior wealth manager at Shaw and Partners, told Bloomberg News.
"Volatility is here to stay going into the back-end of the year with central bank meetings and the US election coming up."
The uncertainty boosted the yen, which is considered a safe investment in times of turmoil. The dollar bought ¥102.08 in Tokyo, down from ¥102.38 in New York and levels above ¥103 earlier on Wednesday in Asia.
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