Asia opens lower as IMF lowers performance estimates for Asian economies

Asian stock indices opened the fourth session of the week lower as the International Monetary Fund now expects Asian economies to shrink by 2.2% in 2020, the worst such performance in the Asia-Pacific region in living memory.  

US Democrats and Republicans remain in a tug of war over Covid relief before the November presidential elections, while the World Health Organization reported 40.67 million global cases so far of the coronavirus, with the death toll standing at 1.121 million. 

Japan's TOPEX fell 1.19%, while the Nikkei 225 declined 0.78% to 23,454. 

China's CSI 300 fell 0.72% to 4,758, while Shanghai gave up 0.79% to 3,298. 

Hong Kong's Hang Seng fell 0.17%, while South Korea's KOSPI fell 0.82% to 2,351. 

New Zealand's NZX 50 fell 0.21%, while Australia's S&P/ASX 200 declined 0.48% to 6,161.