• People stand next to a bank electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Wednesday, Sept. 14, 2016. Global shares were mixed Wednesday, with European indexes mostly higher and Asian markets posting moderate declines. Oil prices bounced back from overnight losses. (AP Photo/Vincent Yu)

    People stand next to a bank electronic board showing the Hong Kong share index at Hong Kong Stock Exchange Wednesday, Sept. 14, 2016. Global shares were mixed Wednesday, with European indexes mostly higher and Asian markets posting moderate declines. ... Oil prices bounced back from overnight losses. (AP Photo/Vincent Yu) (The Associated Press)

  • A man uses a mobile phone in front of an electronic stock indicator of a securities firm in Tokyo, Wednesday, Sept. 14, 2016. Asian shares mostly sagged Wednesday, although oil prices regained overnight drops, amid the possibility of a weaker global economy and guess work about the U.S. Federal Reserve's plans for interest rates. (AP Photo/Shizuo Kambayashi)

    A man uses a mobile phone in front of an electronic stock indicator of a securities firm in Tokyo, Wednesday, Sept. 14, 2016. Asian shares mostly sagged Wednesday, although oil prices regained overnight drops, amid the possibility of a weaker global ... economy and guess work about the U.S. Federal Reserve's plans for interest rates. (AP Photo/Shizuo Kambayashi) (The Associated Press)

  • A man looks at an electronic stock indicator of a securities firm in Tokyo, Wednesday, Sept. 14, 2016. Asian shares mostly sagged Wednesday, although oil prices regained overnight drops, amid the possibility of a weaker global economy and guess work about the U.S. Federal Reserve's plans for interest rates. Japan's benchmark Nikkei 225 lost 0.7 percent to close at 16,614.24. (AP Photo/Shizuo Kambayashi)

    A man looks at an electronic stock indicator of a securities firm in Tokyo, Wednesday, Sept. 14, 2016. Asian shares mostly sagged Wednesday, although oil prices regained overnight drops, amid the possibility of a weaker global economy and guess work ... about the U.S. Federal Reserve's plans for interest rates. Japan's benchmark Nikkei 225 lost 0.7 percent to close at 16,614.24. (AP Photo/Shizuo Kambayashi) (The Associated Press)

Asian shares mostly down on worries about global growth, Fed

Markets Associated Press

Asian shares mostly sagged Wednesday, although oil prices regained overnight drops, amid the possibility of a weaker global economy and guess work about the U.S. Federal Reserve's plans for interest rates.

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KEEPING SCORE: Japan's benchmark Nikkei 225 lost 0.7 percent to close at 16,614.24. Hong Kong's Hang Seng was little changed at 23,218.34. The Shanghai Composite fell 0.6 percent to 3,005.35. South Korean markets were closed for a national holiday. Shares were lower in Singapore, Indonesia and Taiwan.

FED FACTOR: Markets are on the lookout for what the Federal Reserve might do on interest rates, weighing in various signs of possible economic recovery. Economists say December is the most likely time for the Fed to hike rates for the first time this year.

WALL STREET: The Dow Jones industrial average gave up 258.32 points, or 1.4 percent, to 18,066.75. The Standard & Poor's 500 index fell 32.02 points, or 1.5 percent, to 2,127.02. The Nasdaq composite lost 56.63 points, or 1.1 percent, to 5,155.26.

THE QUOTE: "Another nail in the coffin overnight, as both OPEC and the International Energy Agency, revised their oil demand figures for 2017 down," said Jeffrey Halley, senior market analyst at Oanda.

ENERGY: The price of oil recovered some of its 3 percent overnight drop which followed the International Energy Agency's remarks about oil demand because of a slowdown in the global economy. Benchmark crude rose 22 cents to $45.12 a barrel. It fell $1.39, or 3 percent, to $44.90 a barrel in New York Tuesday. Brent crude, the benchmark for international oil prices, rose 18 cents to $47.28 a barrel in London.

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CURRENCIES: The dollar rose to 102.89 yen from 101.98 yen late Tuesday in Asia. The euro fell to $1.1226 from $1.1233.