China stocks led declines among Asia-Pacific markets Wednesday as investors digested Beijing’s plan to boost domestic demand, ahead of the interest rate decision from the U.S. Federal Reserve.
In Japan, the Nikkei 225 index gained 82.65 points, or 0.3%, to 32,926.35.
The Bank of Japan’s Tankan quarterly survey, which measures economic conditions in Japan, showed business confidence at big manufacturers improved more than expected in the fourth quarter, with the index climbing to +12 from +10.
Meanwhile, the index for big non-manufacturers’ sentiment rose to +30 from +27, improving for the seventh quarter in a row.
A positive index reading indicates optimistic respondents outnumber pessimistic ones.
In Hong Kong, the Hang Seng dumped 145.75 points, or 0.9%, to 16,228.75.
CHINA
In Shanghai, the CSI 300 subtracted 5.72 points, or 1.7%, to 3,369.60.
The move comes a day after China’s leaders vowed to boost domestic demand, prioritize the development of strategic sectors and tackle the country’s real estate crisis, following a key meeting that laid out economic priorities for 2024.
In other markets
In Singapore, the Straits Times Index eked higher 1.95 points or 0.1%, to 3,104.26.
In Taiwan, the Taiex jumped 18.3 points, or 0.1%, to 17,468.93.
In Korea, the Kospi index reversed 24.61 points, or 1%, to 2,510.66.
In New Zealand, the NZX 50 recovered 93.19 points, or 0.8%, to 11,475.77.
In Australia, the ASX 200 advanced 22.5 points, or 0.3%, to 7,257.79.
