Shares in Asia-Pacific were largely lower on Wednesday, as technology stocks in the region came under pressure amid rising U.S. bond yields.
In Japan, the Nikkei 225 index forged ahead 30.37 points, or 0.1%, to 29,332.16.
The Japanese yen traded at 115.97 per U.S. dollar, having weakened yesterday from levels below 115.5 against the greenback.
The Hang Seng index in Hong Kong tumbled 382.59 points, or 1.6%, to 22,907.25.
Hong Kong-listed shares of Tencent fell 4.3% on Wednesday. The Chinese tech giant on Tuesday announced that it will be divesting 2.6% of its equity interest in Sea Limited.
Shares of other Chinese tech firms listed in the city also declined, with Meituan down 11.16% while Kuaishou plunged 7.5%.
In other corporate developments, Hong Kong-listed shares of China Mobile jumped 3.3%. The firm made its Shanghai debut on Wednesday in China’s largest public share offering in a decade, according to Reuters. Mainland-listed shares of China Mobile rose 0.5%.
Meanwhile, shares of China Huarong Asset Management plunged 50% after resuming trade from a nine-month suspension.
Elsewhere in the region, South Korea’s Samsung Electronics dropped 1.65% while Kakao fell 5.4%. In Australia, shares of Afterpay slipped 4%.
The Australian dollar was at $0.7236, following its recent bounce from levels below $0.72.
CHINA
In China, the CSI 300 docked 22.6 points, or 0.5%, to 4,971.77.
China’s top market regulator announced Wednesday that it has fined units of Alibaba, Bilibili and Tencent for improper reporting of deals. The country’s cyberspace regulator also announced Wednesday draft rules affecting mobile apps, including a security review
In other markets
In Korea, the Kospi index dropped 35.27 points, or 1.2%, to 2,953.97.
In Taiwan, the Taiex index subtracted 26.39 points, or 0.1%, to 18,499.96.
In Singapore, the Straits Times Index lost 17.7 points, or 0.6%, to 3,163.44.
In New Zealand, the NZX 50 returned from holiday to balloon 116.61 points, or 0.9%, to 13,150.38.
In Australia, the ASX 200 gave back 23.91 points, or 0.3%, at 7,565.85.
