Markets across Asia-Pacific were mixed on Wednesday, as developments turned the focus on Chinese tech giants and regional energy stocks.
In Japan, the Nikkei 225 tumbled 102.69 points, or 0.4%, to 27,055.94.
The Japanese yen traded at 102.76 per U.S. dollar after strengthening yesterday from levels above 102.9 against the greenback.
The Hang Seng index in Hong Kong gained 42.44 points, or 0.2%, to 27,692.30.
Shares of Tencent gained 2.2% and Alibaba in Hong Kong on Wednesday picked up 3.1% in Hong Kong. E-commerce giant JD.com also soared 7.7% while Meituan advanced 4.5%.
Regional energy stocks also advanced in Wednesday trade after Saudi Arabia agreed to voluntary production cuts in February and March. In Australia, Beach Energy rose 2% and Santos gained 2.1%.
Japan’s Inpex also jumped 6.2% and S-Oil in South Korea advanced 4.1%. Hong Kong-listed shares of CNOOC rose 4.3%.
The Australian dollar changed hands at $0.7793 following a rise from levels below $0.768 yesterday.
CHINA
In Shanghai, the CSI 300 added 49.17 points, or 0.9%, to 5,417.67.
Shares of Chinese tech giants Tencent and Alibaba were monitored by investors on Wednesday after U.S. President Donald Trump signed an executive order banning transactions with eight Chinese software applications. That included WeChat Pay and Ant Group’s Alipay. The order is only set to go into effect after Trump leaves office.
Also, a private survey showed services sector activity in China expanding at a slower pace in December, with the Caixin/Markit services Purchasing Managers’ Index coming in at 56.3. That compared against November’s reading of 57.8.
The 50 level in PMI readings separates expansion from contraction.
In other markets
In Korea, the Kospi index dropped 22.36 points, or 0.8%, to 2,968.21
In Singapore, the Straits Times inched forward 3.33 points Wednesday to 2,863.01.
In Taiwan, the Taiex Index subtracted 16.9 points, or 0.1%, to 14,983.13.
In New Zealand, the NZX 50 lost 33.72 points, or 0.3%, to 13,333.93.
In Australia, the ASX 200 doffed 74.8 points, or 1.1% to 6,607.05.
