Asia-Pacific markets traded mixed Wednesday, after Wall Street declined overnight as investors assess the latest developments concerning the Organization of the Petroleum Exporting Countries (OPEC), as well as a report that pointed to weakness in OpenAI.
In Hong Kong, the Hang Seng regained 432.06 points, or 1.7%, to 26,111.84.
Markets in Japan were closed for holiday.
The United Arab Emirates will exit OPEC on May 1, in a major blow to the cartel that coordinates production among many of the world’s largest oil producers, particularly those in the Middle East.
Optimism around tech stocks took a hit as the Wall Street Journal reported that OpenAI’s revenue and new users’ growth was below its own targets. The report added that CFO Sarah Friar told the company leadership that she was concerned OpenAI may not be able to pay for computing contracts in the future if its top line did not expand fast enough.
In other markets
The CSI 300 index in Shanghai recovered 52.14 points, or 1.1%, to 4,810.35.
In Taiwan, the Taiex sank 218.23 or 0.6%, to 39,303.50.
South Korea’s Kospi gained 49.88 points or 0.8%, to 6,690.90
In Singapore, the Straits Times Index subtracted 26.72 points, or 0.6%, to 4,860.97
In New Zealand, the NZX 50 poked ahead 5.9 points, or 0.1%, to 12,770.30.
In Australia, the AZX 200 erased 23.69 points, or 0.3%, to 8,686.99.
