Hong Kong stocks extended losses Wednesday, as markets cautiously wait for China to reveal its major economic programs and targets for the year.
In Japan, the Nikkei 225 index plummeted 111.56 points, or 0.6%, to 18,703.60
The yen traded higher against the U.S. dollar to ¥119.70, compared with ¥119.76 at the Tokyo stock close the previous day.
The Hang Seng Index fell 237.40 points, or 1%, to 24,465.38
Several Hong Kong retailers posted substantial losses as the territory’s retail sales dropped nearly 15% in January, compared with a year earlier, partly due to political demonstrations and protests against mainland Chinese visitors.
Cosmetics retailer Sa Sa International Holdings Ltd. and jeweler Chow Sang Sang Holdings International Ltd. both slid 3.7%, Luk Fook Holdings International Ltd. sagged 1.6%, and Bonjour Holdings Ltd. fell 1.4%.
Macau gaming shares pulled back from an earlier rebound after gambling revenue in the territory fell for the ninth month in a row, down 49% in February from a year earlier. SJM Holdings Ltd. fell 3.7%, Galaxy Entertainment Group Ltd. lost 2.9%, and Wynn Macau Ltd shed 2.8%.
CHINA
The Shanghai CSI 300 regained 22.92 points, or 0.7%, to 3,530.82
Chinese Premier Li Keqiang is scheduled to present his annual government work report on Thursday at the plenary meeting of China’s legislature — the National People’s Congress. Analysts expect him to lower China’s economic-growth target for 2015 from its level of "around 7.5%" for last year.
In other markets
The Taiex index in Taiwan gained 15.96 points, or 0.2%, to 9,621.73
In Singapore, the Straits Times Index shed 6.58 points, or 0.2%, to 3,415/53
The Kospi index in Korea slipped 3.09 points, or 0.2%, to 1,998.29
In New Zealand, the NZX 50 slid 19.58 points, or 0.3%, to 5,874.08
The S&P/ASX index moved lower 32.31 points, or 0.5%, to 5,901.59
