Most Asian shares closed mixed on Wednesday as investors digested earnings releases from regional corporates and resurgence in the dollar
In Japan, the Nikkei 225 index dropped 24.03 points, or 0.1%, to 19,729.28. Gains in most tech stocks offset by losses in auto, trading houses and retail names
The Hang Seng Index vaulted 234.11 points, or 0.9%, to 27,409.07
In currencies, the U.S. dollar was steady against the yen, after climbing in the Tuesday session. The greenback last fetched 110.78 yen. That was above the 109 handle seen since the middle of last week when geopolitical tensions over the Korean peninsula ramped up.
Shares of South Korean aircraft maker Korea Aerospace were on a tear, climbing more than 20% early in the trading session. The company's shares had been pressured over the past month after a series of setbacks, including the resignation of its CEO and media reports about fraud allegations.
Meanwhile, shares of Hong Kong-listed China Unicom were halted from trade, according to the Hong Kong Exchange. While the company said in a release that the trading halt was pending an announcement, no further details were provided. The move came against the backdrop of investor expectations regarding ownership reform of the the company's state-owned parent. The telco operator is expected to release first-half results later on Wednesday.
Geely Auto said Wednesday that half-year net profit came in at 4.34 billion yuan ($648.96 million U.S.) compared to the 1.91 billion yuan seen one year ago. Shares of the automaker rose 0.8% on the back of the news.
Other notable companies in the region scheduled to report results on Wednesday include Tencent and Cathay Pacific. Cathay's first-half results were originally expected at midday local time, but that release was delayed, Reuters reported. Cathay Pacific shares were up 0.7% toward the end of the day.
Australian markets were driven by gains in the energy sub-index, which climbed 2.7%, while the heavily-weighted financials sub-index advanced 0.5%
With reporting season underway in Australia, market movers included biopharmaceuticals company CSL, which saw its stock close down 1.5%. The company reported full-year underlying net profit after tax rose 24% compared to the year before.
Origin Energy saw its shares tack on 5.4% by the end of the session after the company reported that full-year results for the year ending on June 30 rose to A$550 million ($430.38 million U.S.) compared to the A$365 million seen one year ago. The company chose not to pay a dividend for the second half of the year as it continued to focus on "reducing debt," according to a release on the Australian Securities Exchange.
Meanwhile, Westfield Corporation shares closed up 1.9% after the retailer, which operates shopping malls in the U.S. and U.K., announced half-year net profit for the first six months of the year came in at $589 million U.S.
CHINA
The CSI 300 fell 4.64 points, or 0.1%, to 3,701.42
In economics news, the International Monetary Fund on Monday revised upward its growth forecast for China. The IMF said growth would average 6.4% for the period between 2017 and 2021. However, the rosier outlook came with the additional risk of higher debt, the IMF added. It also pushed China to intensify its de-leveraging efforts.
In other markets
In Singapore, the Straits Times Index erased 15.98 points, or 0.5%, to 3,278.95
In Taiwan, the Taiex index docked 20.77 points, or 0.2%, to 10,290.39
In Korea, the Kospi index gained 14.04 points, or 0.6%, to 2,348.26
In New Zealand, the NZX 50 added 39.61 points, or 0.5%, to 7,853.35
In Australia, the ASX 200 climbed 27.62 points, or 0.5%, to 5,785.10
