Asia-Pacific markets traded mixed Wednesday as investors assessed rising global bond yields and the latest developments on the trade front.
In Japan, the Nikkei crumbled 371.60 points, or 0.9%, to 41,938.89.
Yields on Japanese Government Bonds (JGBs) rose, with the yield on 10-year JGBs up 3.3 basis points to 1.636%.
Meanwhile, the yield on 30-year JGBs increased by 8.7 basis point to 3.298%, after hitting a record high earlier in the session. Yields on 20-year JGBs rose 5.5 basis points to 2.686%, after hitting its highest level in 26 years earlier in the session.
In Hong Kong, the Hang Seng lost 153.12 points, or 0.6%, to 25,343.43.
Meanwhile, authorities in Hong Kong are investigating if regulatory staff at Hong Kong Exchanges & Clearing and the Securities and Futures Commission disclosed information to individuals on upcoming announcements from several listed companies over a few years. At least two individuals were involved in the alleged insider dealings, Bloomberg reported.
Over in Australia, markets logged their biggest one-day drop since Apr. 7, dragged by declines in tech, real estate and property stocks.
The country’s second-quarter GDP grew 1.8% year over year, marking the fastest pace of growth since September 2023. The latest reading beat the 1.6% growth expected by economists polled by Reuters, and was higher than the 1.3% seen in the previous quarter.
CHINA
Chinese markets were in focus following President Xi Jinping’s speech at a military parade to commemorate the 80th anniversary of the end of World War II. The event was graced by 26 world leaders, including Russian President Vladimir Putin and North Korea’s leader Kim Jong Un.
The index, which is compiled by S&P Global, rose to 53.0 in August from 52.6 in July. The 50-point mark separates an expansion from contraction.
In Shanghai, the CSI 300 dipped 30.62 points, or 0.7%, to 4,458.83.
In other markets
In Singapore, the Straits Times index dipped 9.18 points, or 0.2%, to 4,289.33.
In Korea, the Kospi nicked up 12.07 points, or 0.4%, to 3,184.33.
In Taiwan, the Taiex index recovered 83.52 points, or 0.4%, to 24,000.30.
In New Zealand, the NZX 50 slipped 58.34 points, or 0.4%, to 13,074.82
In Australia, the ASX 200 fell back 161.77 points, or 1.8%, to 8,738.80.
