Japanese stocks fell on Wednesday, snapping a five-day winning streak as investors took profits amid geopolitical tensions that damaged risk appetite and a strengthening yen that hurt sentiment, dragging down exporters and financials.
The Nikkei 225 index erased 77.31 points, or 0.4%, to 19,847.58, with sentiment dampened by minutes of the Bank of Japan's October 30 meeting, in which members said the Japanese economy was likely to grow at a slower pace in 2017 due to sales tax hikes.
In Hong Kong, the Hang Seng slid 89.63 points, or 0.4%, to 22,498.
Heavyweight electronic exporters fell, with Sony and Panasonic closing down 1.9% and 1.7% respectively. After a 25% surge in shares of Sharp over three sessions, on news that banks may forgive its loans, the stock erased a nearly 15% intraday rise to close flat.
Almost all sectors in Hong Kong fell. But energy shares were generally up on higher oil prices triggered by the Middle East tension.
In Hong Kong, Cheung Kong Infrastructure Holdings slipped 0.7% after losing a bid to buy utility firm Power Assets Holdings.
Bucking the tend, shares of Chow Tai Fook Jewellery Group jumped 6% after the company declared a special dividend, boosting its total dividend payout nearly four times from a year ago.
Energy plays rallied in the region. Among Australia-listed plays, LNG jumped 7.4% and Santos added 3.5%. In Japan, Inpex rose 1.2% and Hong Kong-listed CNOOC gained 3.2%.
In Seoul, car makers lost ground, with Hyundai shedding 2.3% and Kia falling 3.4%.
Three of Australia's four biggest banks, ANZ, Commonwealth Bank of Australia and NAB were down, some by as much as 1.2%.
CHINA
The CSI 300 in Shanghai gained 27.72 points, or 0.7%, to 3,781.61.
Brokerages declined despite news that China's securities regulator lifted rules implemented in July that required them to buy more shares than they sold each day for propriety trading. The rules were imposed after a months-long market rout.
But brokerage shares on the mainland still fell, with Shanghai-listed Citic Securities fell 1.5% and Haitong Securities dropped 0.2%.
In other markets
In Singapore, the Straits Times Index docked 31.91 points, or 1.1%, to 2,891.58
The Kospi index in Korea lost 6.87 points, or 0.3%, to 2,009.42
Taiwan’s Taiex index gave back 14.01 points, or 0.2%, to 8,386.13
In New Zealand, the NZX 50 skidded 32.13 points, or 0.5%, to 6,069.14
The ASX 200 doffed 32.71 points, or 0.6%, to 5,193.68
