Asian markets fall again as rupee hits record low

Asian markets outside Japan fell again as strong growth in the US services sector stoked fears the country will soon begin tapering bond purchases.

The US non-manufacturing index for July came in at 56, above most analysts' estimates of 53 and raising the prospect of a slowdown in US quantitative easing as soon as next month. That had a knock-on effect on sentiment in Asia, where the Hang Seng index fell by 1.1%, with HSBC falling 4.6% after the bank's results missed estimates. The recent dip in the Hang Seng comes after more than five weeks of consecutive gains, enthusiasm having been tempered after the head of China's central bank said the country should pursue more prudent monetary policy. In other markets, Taiwan's Taiex i...