Asia Mixed Wednesday

Shares in Asia-Pacific were mixed on Wednesday, with shares of China Evergrande Group recovering slightly after briefly falling below their IPO price.

The Nikkei 225 leaped 256.07 points, or 0.9%, to 30,181.21.

The Japanese yen traded at 110.14 per U.S. dollar, weaker than levels below 109.8 seen against the greenback yesterday.

Japan’s economy saw 1.9% annualized growth in the April to June quarter, higher than the initial estimate for a 1.3% rise, revised government data showed Wednesday.

In Hong Kong, the Hang Seng Index dropped 32.7 points, or 0.1%, to 26,320.93.

By the Wednesday market close in Hong Kong, China Evergrande Group shares in the city rose 3.92%.

Still, the embattled property developer’s stock has dropped nearly 5% so far this week, extending declines since last week after it warned that it could default.

Moody’s Investors Service on Tuesday downgraded its rating, citing "heightened liquidity and default risks." Ratings agency Fitch also followed with a downgrade on Evergrande on Wednesday morning.

The Australian dollar changed hands at $0.7351 after yesterday’s decline from levels above $0.744.

In other markets

In Shanghai, the CSI 300 fell 20.7 points, or 0.4%, to 4,972.13.

In Korea, the Kospi index sank 24.43 points, or 0.8%, to 3,162.99

In Singapore, the Straits Times subtracted 39.59 points, or 1.3%, to 3,068.94

In Taiwan, the Taiex index plummeted 158.38 points, or 0.9%, to 17,270.49

In New Zealand, the NZX 50 lost 128.99 points, or 1%, to 13,193.01

In Australia, the ASX 200 handed back 18.33 points, or 0.2%, at 7,512.01