Most Asian Markets Higher as Nikkei Cools

Most major indexes in Asia closed higher on Wednesday as the Australian dollar fell to its lowest levels in three months after inflation missed expectations.

The Nikkei 225 index lost 97.56 points, or 0.5%, to 21,707.62, ending its win streak at 16 sessions.

The Hang Seng Index recovered 147.92 points, or 0.5%, to 28,302.89

Australian markets edged higher, as miners led gains on the broader index. The energy and materials sub-indexes were up 1.2% and 1% respectively, although those gains were partially offset by losses in the telecommunications and consumer staples sub-indexes.

Meanwhile, the Australian dollar fell to its lowest levels since July after third-quarter inflation released Wednesday missed expectations. The consumer price index for the third quarter increased by 1.8%, below estimates of 2%. The Australian currency traded at $0.7717 after falling as low as $0.7712 in the session.

Elsewhere, earnings were in focus in South Korean markets, with several notable companies releasing quarterly reports on Wednesday.

Shares of LG Display popped after reporting that third-quarter profit had risen 81% compared to one year ago. Operating profit for the period stood at 586 billion won ($519 million U.S.). LG Display shares closed up 0.2% after rising more than 3.4% earlier in the session.

In corporate news, the president of Taiwan-listed China Airlines said the company intended to order a minimum of 20 Airbus or Boeing narrow body aircraft by year-end. Shares of the airline closed up 0.8%.

In other equities news, shares of HNA Holding traded in Hong Kong spiked 25.9% on the day. The jump in share price was due in part to no additional measures related to acquisitions and capital controls being mentioned during the now-concluded 19th Party Congress.


In Shanghai, the CSI 300 gained 17.55 points, or 0.4%, to 3,976.95

China's new leadership lineup was unveiled on Wednesday, with only Chinese President Xi Jinping and Premier Li Keqiang the only two members staying on in the seven-man Politburo Standing Committee.

The country's 19th Party Congress concluded on Tuesday. Of note, Xi's name was officially enshrined in the party's constitution on the last day of the event.

In other markets

In Korea, the Kospi index inched up 2.01 points, or 0.1%, to 2,492.50

In Taiwan, the Taiex Index gained 6.79 points, or 0.1%, to 10,750.57

In Singapore, the Straits Times Index tacked on 9.21 points, or 0.3%, to 3,343.88

In New Zealand, the NZX 50 dropped 7.43 points, or 0.1%, to 8,122.67

In Australia, the ASX 200 gained 7.98 points, or 0.1%, to 5,905.60