Hong Kong Weighs Asia Stocks

Shares in Asia-Pacific were lower on Wednesday, with Chinese tech stocks in Hong Kong seeing big losses.

The Nikkei 225 index in Tokyo lost 7.77 points to 29,096.24.

The Japanese yen traded at 113.72 per dollar, stronger than levels around 114.2 seen earlier against the greenback.

In Hong Kong, the Hang Seng toppled 409.53 points, or 1.6 %, to 25,628.74

Hong Kong-listed shares of Tencent dropped 3% on Wednesday while Alibaba fell 3% and Meituan plunged 5.1%.

Australia’s consumer price index rose 0.8% in the September 2021 quarter, data from the country’s Bureau of Statistics showed Wednesday. The reading for quarterly consumer inflation was in line with expectations from a Reuters poll.

The Australian dollar rose to $0.7506 following the data release, against an earlier low of $0.7495.

CHINA

In China, the CSI 300 docked 64.94 points, or 1.3%, to 4,898.16.

Industrial profits in China surged 16.3% year-on-year in September, according to data released Thursday by China’s National Bureau of Statistics.

In other markets

In Taiwan, the Taiex gained 40.21 points, or 0.2%, to 17,074.55.

In Korea, the Kospi index slid 23.59 points, or 0.8%, to 3,025.49.

In Singapore, the Straits Times inched up 13.6 points, or 0.4%, to 3,218.17

In New Zealand the NZX 50 capsized 55.15 points, or 0.4%, to 13,020.26

In Australia, the ASX 200 added 5.29 points, or 0.1%, at 7,448.71.