Stock markets in Tokyo, Hong Kong and Sydney all ended lower Wednesday, as U.S. debt worries maintained their grip on the region’s investors.
In Japan, the Nikkei 225 average slipped 50.53 points, or 0.5%, to 10,047.20
Hong Kong’s Hang Seng Index fell 30.39 points, or 0.1%, to 22,541.70, after managing to breach positive territory for part of the session. Weakness in shares of export-focused firms dragged the benchmark to a loss.
As the U.S. dollar languished below the ¥78 mark on Wednesday, Japanese exporters moved lower. Nintendo Co. lost 2%, Honda Motor Co. gave up 1.7%, and Toyota Motor Co. fell 1.2%.
Nissan Motor Co fell 1.9% ahead of its after-market earnings announcement.
Many Hong Kong-listed exporters and trade-focused firms also saw their shares fall amid concern about how the U.S. debt situation will play out. Apparel group Esprit Holdings Ltd. lost 2.6%, Li & Fung Ltd. fell 1.5%, computer maker Lenovo Group Ltd. gave up 0.8%, and ports operator Cosco Pacific Ltd. ended 2.6% lower.
However, some banks and property firms advanced on bargain hunting, with Henderson Land Development Co. up 1.1%, China Resources Land Ltd. rising 1.5%, and Bank of China Ltd. higher by 0.6%.
South Korea’s LG Electronics Inc. gained 2.6% after reporting a return to profit that beat analysts’ expectations, helping to lift the Seoul market out of early gloom that followed the release of a below-forecast reading on economic growth.
Australia’s S&P/ASX 200 finished with a loss after stronger-than-expected consumer inflation data raised the possibility of another interest-rate hike and sent the Australian dollar to a fresh post-float high.
Australian consumer-discretionary stocks were weaker after the inflation data, with department-store owner Myer Holdings Ltd. down 2.8%, and electronics and appliance retailer Harvey Norman Ltd. surrendering 2.6%.
In other markets
Shanghai’s CSI 300 Index gained 22.29 points, or 0.8%, to 3,000.05
Korea’s Kospi Index picked up 5.61 points, or 0.3%, to 2,174.31
Taiwan’s Taiex Index advanced 23.25 points, or 0.3%, to 8,817.49
Singapore’s Straits Times Index tacked on 6.97 points, or 0.2%, to 3,193.54
New Zealand’s NZX 50 Index backpedaled 4.27 points, or 0.1%, to 3,412.35
Australia’s S&P/ASX 200 Index settled 35.90 points, or 0.8%, to 4,537.40
