August 17th, 2011
10:17 AM GMT
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Hong Kong, China (CNN) – Directionless is the apt word for Asia-Pacific markets this Wednesday after investors were largely underwhelmed by a Eurozone summit Tuesday, headlined by German Chancellor Angela Merkel and French President Nicolas Sarkozy.

The meeting of minds for Europe’s two largest economies basically produced few tangible results to solving the Continent’s ongoing debt crisis. The main outcomes: a “no” to increasing a European bailout fund, a “no” to Euro bonds and a “yes” to resubmitting a transaction tax proposal that had failed EU passage in 2010.

In Japan, the Nikkei closed down 0.55%. Major exporters Nissan, Toyota and Sony were heavyweights that dragged down the index, all falling between 1.5% and 2.5%. Honda throttled back to be the biggest loser of the Japanese export bunch, down 2.48%.

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