Asian markets staged a broad retreat Wednesday as a drop in crude-oil prices triggered a sell-off in energy-related issues such as Inpex Holdings Inc. and Cnooc, overpowering a rally in airline stocks like Qantas and Cathay Pacific.
In Tokyo, the Nikkei 225 Average finished 1.3% lower at 13,709.44 and the broader Topix index fell 1.4% to 1,348.69, unable to sustain early gains. In Hong Kong, the benchmark Hang Seng Index slipped 0.1% to 24,249.51.
Some exporter stocks slipped into the red in Tokyo, giving up early gains, on a strengthened Japanese yen. Shares of Toyota Motor Co. slipped 0.4% and Sony Corp. lost 0.8%, while Nintendo Co. lost 0.7%.
China's Shanghai Composite moved in a range in early trading, but rallied in afternoon trading as bargain-hunters bought into airline, financial and metal stocks. The benchmark index, which tracks both yuan-denominated A shares and B-shares denominated in foreign currencies, finished 2.5% up at 3,459.03.
Elsewhere:
New Zealand's NZX 50 index slipped 0.1% to 3,547.01.
South Korea's Kospi gave up early advances to drop 1.1% to 1,805.64.
Taiwan's Weighted index lost 1.3% to 8,665.73.
with files from other wire services
