Asia-Pacific markets were mixed Wednesday as investors assessed trade data from Japan and the country’s new leadership.
The Nikkei 225 handed back 8.27 points to 49,307.79.
Japanese exports in September snapped four months of declines, climbing 4.2% year on year, as shipments to Asia saw robust growth, partially offsetting the drop in exports to the U.S.
Exports, however, missed analysts’ expectations of a 4.6% rise, according to median estimates in a Reuters poll of economists.
Prime Minister Sanae Takaichi and her new cabinet were sworn in on Tuesday, with her former rival in the ruling Liberal Democratic Party’s leadership race, Shinjiro Koizumi, named defense minister and Satsuki Katayama becoming Japan’s first female finance minister.
Shares of SoftBank plunged over 10% before paring losses to about 5%. Shares had gained 8.5% on Monday.
In Hong Kong, the Hang Seng index dropped 245.78 points, or 0.9%. to 25,781.77.
Shares of Labubu doll maker Pop Mart, which reported a 250% surge in revenue for the third quarter on Tuesday, were up 2.4%.
Korean markets enjoyed their sixth straight gaining day, hitting a new all-time high.
Shares of LG Chem soared 13% after Palliser Capital urged the chemicals company to revamp its board and buy back shares, according to a Reuters report.
In other markets
The CSI 300 in Shanghai dipped 15.3 points, or 0.3%, to 4,592.57.
In Taiwan, the Taiex index flopped 103.5 points, or 0.4%, to 27,648.91.
In Korea, the Kospi gained 59.84 points, or 1.6%, to 3,883.68.
In Singapore, the Straits Times Index regained 12.87 points, or 0.3%, to 4,393.92
In New Zealand, the NZX 50 ditched 71.41 points, or 0.5%, to 13,306.44.
In Australia, the ASX 200 flailed 64.49 points, or 0.7%, to 9,030.02.
