Hong Kong stocks closed lower on Wednesday, keying off a selloff in the U.S. markets overnight, and ending a three-session run of gains.
In Tokyo, the Nikkei 225 descended 187.85 points, or 1.2%, to 15,595.98, with the U.S. dollar rising to ¥108.013, compared with ¥107.828 a day earlier.
In Hong Kong, the Hang Seng index lost 159.19 points, or 0.7%, to 23,263.33, the fifth decline in the past eight days.
Banks and tech stocks dropped, with several index heavyweights falling hard, including a 1.1% pullback for telecom giant China Mobile Ltd. and a 0.9% move lower for online major Tencent Holdings Ltd.
Among financial stocks, top underperformers included China Merchants Bank Co. down 1.5%, and Bank of Communications Co. off 0.9%.
Casino stocks tumbled, as MGM China Holdings Ltd. slid 3.2% and Galaxy Entertainment Group Ltd. lost 2.7%. Both Sands China Ltd. and Melco Crown Entertainment Ltd. dropped 2.5%, and Wynn Macau Ltd. skidded 2.1%.
Oil stocks were also weak as international crude prices fell, with state-owned energy giant PetroChina Co. giving up 2%, offshore oil producer Cnooc Ltd. moving down 1.3%, and China Petroleum & Chemical Corp. or Sinopec, trading 0.6% lower.
CHINA
Shanghai’s CSI 300 index returned from a week’s holiday to gain 27.40 points, or 1.1%, to 2,478.38.
Mainland Chinese real-estate developer Sunac China Holdings Ltd. bucked the trend and rose 0.6% as the company’s contract sales for the first nine months of this year jumped 33% from a year ago. Rival Greentown China Holdings Ltd. also added 0.4% after reporting a 28% increase in its contract sales for last month.
In other markets;
Korea’s Kospi index dropped 7.66 points, or 0.4%, to 1,965.25
The Taiex index in Taiwan docked 85.63 points, or 1%, to 8,955.18
In Singapore, the Straits Times STI index let go of 17.28 points, or 0.5%, to 3,226.71
In New Zealand, the NZX 50 regained 10.19 points, or 0.2%, to 5,245.90
Australia’s S&P/ASX 200 skidded 42.93 points, or 0.8%, to 5,241.27
