Greater China markets bucked declines in most Asian markets to post slight gains on Wednesday as investors digested Federal Reserve Chair Janet Yellen's overnight speech and as North Korea tensions took a backseat.
The Nikkei 225 index dipped 63.14 points, or 0.3%, to 20,267.05, despite the weaker yen as most automakers, financials and trading houses pulled back.
The Hang Seng Index gained 129.42 points, or 0.5%, to 27,642.43
Korean markets finished lower, despite most tech stocks eking out gains after falling in the last session: Samsung Electronics closed up 0.04% and SK Hynix added 0.4%. Most manufacturing names saw declines.
Australian markets moved lower, with the information technology and telecommunication services sub-indexes leading losses.
In corporate news, Alibaba affiliate Ant Financial will form a joint venture with Hong Kong's CK Hutchison to manage its payments services in Hong Kong. The agreement is likely to be completed by year-end. Shares of CK Hutchison were up 0.3%.
Shares of Wanda Hotel Development closed up 9.7% after media reports that the company said it was acquiring Wanda Hotel Management from Dalian Wanda Commercial Properties.
Yellen’s speech on Tuesday was regarded as slightly hawkish by market watchers after she said the central bank had to continue raising interest rates gradually in the face of "significant uncertainties."
The U.S. dollar extended overnight gains after touching a one-month high following Yellen's comments.
The greenback also clawed back gains against the Japanese currency to fetch 112.73 yen. The U.S. currency had traded around the 111 handle during Asian trade on Tuesday after North Korea accused President Donald Trump of declaring war.
CHINA
The CSI 300 inched up 0.42 points, or 0.01%, to 3,820.20
In economic news, profits made by Chinese industrial companies in August rose 24% compared a year earlier. That was above the 16.5% rise seen in July.
In other markets
In Taiwan, the Taiex index took on 69.66 points, or 0.7%, to 10,326.68
In Korea, the Kospi index docked 1.75 points, or 0.1%, to 2,372.57
In Singapore, the Straits Times Index gained 24.11 points, or 0.8%, to 3,236.15
In New Zealand, the NZX 50 gained 26.6 points, or 0.3%, to 7,913.78
In Australia, the ASX 200 slid 6.7 points, or 0.1%, to 5,664.28
