Asia-Pacific markets were mixed as investors digested economic data from Japan and Australia.
In Japan, the Nikkei 225 progressed 250.6 points, or 0.8%, to 30,093.59, exceeding the psychological level of 30,000. the highest since August 1990.
Quad leaders also canceled a planned meeting in Sydney next week as U.S. President Joe Biden cut his Asia trip short to return to the U.S. for talks on the debt ceiling.
In Hong Kong, the Hang Seng dumped 417.68 points, or 2.1%, to 19,560.57.
Hong Kong’s stocks saw a sharp selloff in its final hours of trade as healthcare, real estate, and consumer cyclical stocks led declines, Refinitiv data showed.
Australian stocks were lower, with mining stocks leading the losses.
Overnight in the U.S., all three major indexes dipped as investors turned its attention to a meeting between congressional leaders and President Joe Biden on the U.S. debt ceiling.
CHINA
In China, the CSI 300 index dropped 18.04 points, or 0.5%, to 3,960.17.
Investors further digested China’s new home prices that fell 0.2% year-on-year in April.
The offshore Chinese yuan weakened further to 7.0061 against the greenback, breaching the 7-mark for the first time in 2023 on Wednesday morning.
In other markets
In Singapore, the Straits Times index fell 40.2 points, or 1.3%, to 3,173.84.
In Korea, the Kospi eked up 14.42 points, or 0.6%, to 2,494.66.
In Taiwan, the Taiex index popped 251.39 points, or 1.6%, to 15,925.29.
In New Zealand, the NZX 50 inched higher 5.79 points, or 0.1%, to 11,951.66.
In Australia, the ASX 200 fell 35.44 points, or 0.5%, to 7,199.24.
