Asian stocks closed lower on Wednesday after U.S. President Donald Trump said he was "not satisfied" with the latest round of trade talks with China.
In Japan, the Nikkei 225 tumbled 270.6 points, or 1.2%, to 22,689.74, amid the move higher in the yen. The U.S. dollar slipped to trade at 110.22, under the 111 handle seen earlier this week. Major exporters were hurt as the yen firmed, with Honda Motor declining 1% and TDK down 2%
In Hong Kong, the Hang Seng Index returned from a long weekend to lose 568.71 points, or 1.8%, to 30,665.64, hurt by falls in financials and energy.
Korean markets bucked the trend and actually gained, as gains in large cap technology names offset declines seen in other major sectors.
Samsung Electronics rose 3.6% and SK Hynix added 7%, while steelmakers and financials slid.
Australian markets lost points, as energy names dragged on the broader index
In corporate news, shares of Australia's Santos plunged 8.4% after the oil and gas producer rejected a takeover offer from Harbour Energy. The offer did not represent the full value of the company, Santos said in a release, adding that it had also ended discussions with Harbour.
On the geopolitical front, Trump said Tuesday there was a "substantial chance" that a summit with North Korean leader Kim Jong Un "may not work out." Trump's comments came as he met South Korean President Moon Jae-in ahead of a planned meeting, scheduled for June 12, with Kim.
CHINA
In Shanghai, the CSI 300 dipped 51.63 points, or 1.3%, to 3,854.38
Coal miners came under pressure, with shares of China Shenhua down 6.2% in Hong Kong and lower by 7% in Shanghai. That came as Chinese authorities intervened in the coal market
Still on the issue of trade, China announced on Tuesday that it would reduce tariffs on some vehicles to 15% from as much as 25%. Tariffs on certain automotive parts would also be cut.
In other markets
In Korea, the Kospi index gained 6.34 points, or 0.3%, to 2,471.91
In Singapore, the Straits Times Index dropped 46.91 points, or 1.3%, to 3,496.27
In Taiwan, the Taiex Index fell 52.55 points, or 0.5%, to 10,886.18
In New Zealand, the NZX 50 fell 60.09 points, or 0.7%, to 8,553.23
In Australia, the ASX 200 eased 9.36 points, or 0.2%, to 6,032.51
