Stocks in Asia shed earlier gains and were mixed on Wednesday as concerns over U.S.-China tensions weighed on investor sentiment.
In Japan, the Nikkei 225 index vaulted 358.49 points, or 1.6%, to 22,945.50.
Meanwhile, the Bank of Japan said in its outlook report on Wednesday that the country’s economy is “likely to improve gradually” from the second of this year, though the pace is “expected to be only moderate” as the impact of the coronavirus pandemic remains globally.
The Japanese yen traded at 107.13 per U.S. dollar after touching levels around 107.4 against the greenback yesterday.
In Hong Kong, the Hang Seng index forged ahead 3.69 points to 25,481.58
Investors on Wednesday also watched for reaction to the latest developments surrounding a potential vaccine for the coronavirus.
Biotech firm Moderna’s potential vaccine to prevent COVID-19 produced a “robust” immune response, or neutralizing antibodies, in all 45 patients in its early stage human trial, according to newly released data published in the peer-reviewed New England Journal of Medicine.
The Australian dollar changed hands at $0.699 following an earlier high of $0.7018.
CHINA
In Shanghai, the CSI 300 slumped 62.22 points, or 1.3%, to 4,744.47.
U.S. President Donald Trump on Tuesday said he signed legislation to impose sanctions on China in response to its interference with Hong Kong’s autonomy. Trump also said he signed an executive order ending Hong Kong’s special status with the U.S.
In other markets
In Singapore, the Straits Times Index progressed 28.71 points, or 1.1% to 2,648.90
In Korea, the Kospi recovered 18.27 points, or 0.8%, to 2,201.88
In Taiwan, the Taiex index dropped 6.16 points, or 0.1%, to 12,202.85
In New Zealand, the NZX 50 popped 116.37 points, or 1%, to 11,610.52
In Australia, the ASX 200 tore higher 111.84 points, or 1.9%, to 6,052.92.
