Asia-Pacific Stocks Mixed

Shares in Asia-Pacific were mixed on Wednesday as investors looked ahead to the end of the U.S. Federal Reserve’s two-day meeting for clues on tapering.

Markets in Japan were shuttered for holiday

In Hong Kong, the Hang Seng lost 74.92 points, or 0.3%, to 25,024.78.

In Korea, shares of Kakao Pay surged in their Wednesday debut as they more than doubled from their issue price of 90,000 Korean won. By the Wednesday market close in South Korea, the stock had soared about 114% from its issue price.

Kakao Games also surged 3%, while Kakao Corp shares dipped 2.7% and Kakao Bank dropped 7.3%.


In China, the CSI 300 sank 18.74 points, or 0.4%, to 4,821.11.

A private survey released Wednesday showed growing Chinese services activity in October, with the Caixin/Markit services Purchasing Managers’ Index coming in at 53.8, rising from September’s reading of 53.4.

China’s official non-manufacturing PMI for October came in at 52.4 over the weekend, a decline from the September reading of 53.2.

PMI readings below 50 represent contraction while those above that level signify expansion. PMI readings are sequential and represent month-on-month expansion or contraction.

In other markets

In Taiwan, the Taiex regained 56.19 points, or 0.3%, to 17,122.16.

In Korea, the Kospi index lost 37.78 points, or 1.3%, to 2,975.51.

In Singapore, the Straits Times gave back 12.68 points, or 0.4%, to 3,219.69

In New Zealand the NZX 50 eked ahead 1.33 points to 12,933.83

In Australia, the ASX 200 recovered 68.41 points, or 0.9%, at 7,392.73.