Asian stocks decline as traders await more cues about Fed's rate-cut path

• Asian stocks tack the overnight slide in the US equity markets and retreated on Wednesday.
• JD.com sinks on report of Walmart stake sale and weighs on Hong Kong’s Hang Seng index.
• China's economic woes and the recent appreciation in the JPY also dent investors' sentiment.

Asian equity markets edge lower on Wednesday, tracking the overnight pullback on Wall Street that snapped an eight-day winning streak. Hong Kong’s Hang Seng Index turned out to be the worst performer, falling 1% for the day amid heavy losses in the e-commerce major JD.com led by the report of Walmart's stake sale. 

Adding to this, concerns over slowing growth in China continue to weigh on investors' sentiment and contribute to a decline of around 0.4% in the Shanghai Composite Index, which remains close to a six-month low. Furthermore, Japan's Nikkei 225 is weighed down by the recent appreciation in the Japanese Yen (JPY) and the political uncertainty led by Japanese Prime Minister Fumio Kishida's decision to step down. Meanwhile, Japan’s exports grew less than expected in July, while imports accelerated on improving local demand, with the trade deficit ballooning to ¥621.84 billion.

Meanwhile, US equity futures moved little in Asian trade as traders seem reluctant to place fresh bets following the recent strong rally and ahead of the key event risks. The July FOMC meeting minutes will be published later today, which, along with Federal Reserve (Fed) Chair Jerome Powell's speech at the Jackson Hole Symposium on Friday, will be scrutinized for fresh cues about the policy path. This, in turn, will drive investors' appetite for riskier assets and provide a fresh impetus.