Asian markets continue to slide

Asian stock markets have once again taken their lead from losses on Wall Street overnight and headed lower today (December 12th), amid continuing speculation the Federal Reserve is preparing to cut its monetary stimulus. 

With the US central bank set to hold its latest policy meeting on December 17th-18th, investors are increasingly anticipating a reduction in its asset purchases, which currently total $85 billion per month. 

The Nikkei 225 closed lower for the third successive session, shedding 1.12 per cent to 15,341.82 points - its lowest level in a week. 

In Hong Kong, the Hang Seng slumped to a four-week low as traders awaited news from China's Central Economic Work Conference, which will outline growth targets and priority policies for the coming year. It is expected the country's government will maintain forecasts for 7.5 per cent gross domestic product expansion and 3.5 per cent inflation.

Australia's ASX/200 dropped to its lowest level in more than three months after it was revealed the country's unemployment rate climbed to 5.8 per cent last month.