Hong Kong shares dropped more than 2% after Federal Reserve Chairman Jerome Powell cautioned that interest rates may need to be higher than expected, fueling concerns of a potentially larger hike at the next policy meeting.
The Nikkei 225 index jumped 135.03 points, or 0.5%, to 28,444.19, led by consumer cyclicals, healthcare, and basic materials stocks, leading losses in the region.
The Hang Seng Index dumped 483.23 points, or 2.4%, to 20,051.25. with JD.com falling 4.7% and Alibaba trading 3.56% lower.
In South Korea, SK Innovation and SK Hynix also fell 3% and 2.47% respectively, with Samsung Electronics also traded 0.82% lower.
Taiwan-listed shares of Taiwan Semiconductor Manufacturing and MediaTek also fell in Taipei.
Australian markets backpedaled, as investors digested Reserve Bank of Australia’s Governor Philip Lowe’s speech after the bank’s 25 basis point hike on Tuesday.
CHINA
In Shanghai, CSI 300 dipped 14.74 points, or 0.4%, to 4,043.11.
In other markets,
In Korea, the Kospi index fell 31.44 points, or 1.3%, to 2,431.91.
In Singapore, the Straits Times index faltered 31.44 points, or 1.3%, to 2,431.91.
In Taiwan, the Taiex index lost 39.69 points, or 0.3%, to 15,818.20
In New Zealand, the NZX 50 lost 64.02 points, or 0.5%, to 11,855.54.
In Australia, the ASX 200 doffed 56.89 points, or 0.8%, to 7,307.77.
