Asian stocks were mixed on Wednesday ahead of a policy decision by the U.S. Federal Reserve.
The Nikkei 225 dropped 127.53 points, or 0.6%, to 20,987.92.
The widely anticipated trading debut of SoftBank Corp, the mobile unit of Japanese conglomerate SoftBank Group, ended in disappointment.
The company’s shares closed 14.5% lower than its initial public offering price of 1,500 yen ($13.36 U.S.). It was the most heavily-traded stock on the Tokyo Stock Exchange.
SoftBank Corp’s 2.65 trillion yen ($23.6-billion U.S.) IPO is the largest ever in Japan and the second-largest in the world behind Alibaba’s $25 billion IPO in 2014.
The Japanese yen was stronger versus the U.S. dollar at 112.37 compared to 112.51 previously
In Hong Kong, the Hang Seng Index gained 51.14 points, or 0.2%, to 25,865.39
Australian stocks were on the downside, as energy stocks were mostly lower. Origin Energy tumbled by 5.7% at the close, while Woodside Petroleum fell by 1.8%
While the Australian dollar inched up to $0.7191 U.S. from $0.7180.
CHINA
In Shanghai, the CSI 300 lost 37.3 points, or 1.2%, to 3,091.13
Shares of top Chinese oil firms fall following the plunge in oil prices overnight. Petrochina shares fell 3.3% in Hong Kong and 2.1% in Shanghai. Shares of China Petroleum and Chemical Corp slipped 4.9% in Hong Kong and 2.8% Shanghai.
China is reportedly starting its Central Economic Working Conference this week after Chinese President Xi Jinping’s Tuesday speech to mark the 40th anniversary of the country’s market opening and reform.
Among the details that could come out from China include the growth target for 2019, growth-supportive policies and reform measures essential for a deal with the U.S.
In other markets
In Taiwan, the Taiex index regained 64.39 points, or 0.7%, to 9,783.21
In Korea, the Kospi index recovered 16.73 points, or 0.8%, at 2,078.84
In Singapore, the Straits Times Index recouped 13.11 points, or 0.4%, to 3,058.65
In New Zealand, the NZX 50 moved higher 73.82 points, or 0.9%, to 8,762.19
In Australia, the ASX 200 lost 8.87 points, or 0.2%, to 5,508.60
