Asia-Pacific markets traded mixed Wednesday, following Wall Street declines after Treasury yields rose and major U.S. tech stocks declined.
In Japan, the Nikkei 225 gave back 102.24 points, or 0.3%, of Tuesday’s gains, to 39,981.06.
In Hong Kong, the Hang Seng index dumped 167.74 points, or 0.9%, to 19,279.84.
Shares of South Korean tech giant Samsung Electronics rose 3.43% in choppy trading, shrugging off a worse-than-expected profit forecast for the fourth quarter.
The world’s top memory chip maker said its operating profit for the quarter ended Dec. 31 would be around 6.5 trillion won ($4.47 billion U.S.), missing LSEG estimates of 7.7 trillion won.
CHINA
The CSI 300 ditched 6.89 points, or 0.2%, to 3,789.22.
China’s onshore yuan hit a 16-month low against the greenback, reaching as low as 7.3316. This comes after Treasury yields rose overnight, strengthening the dollar.
Shares of Chinese tech firm Tencent Holdings fell 2.27% after extending from an almost 8% decline on Tuesday following its inclusion in the U.S. Department of Defense list of “Chinese military companies.” Shares of battery maker CATL, which was also included in the list, lost 1.92%.
In other markets,
In Singapore, the Straits Times index hiked 58.81 points, or 1.5%. to 3,886.98
In Korea, the Kospi index marched 28.95 points, or 1.2%, to 2,521.05.
In Taiwan, the Taiex index crumbled 243.94 points, or 1%, to 23,407.33.
In New Zealand, the NZX 50 inched up 1.05 points to 13,043.11.
In Australia, the ASX 200 picked up 64.05 points, or 0.8%, to 8,349.15.
