Asia-Pacific markets traded mixed on Wednesday with Australia’s S&P/ASX 200 reaching an all-time high, while an increase in business optimism among large Japanese manufacturers lifted Japanese stocks.
The Reuters Tankan manufacturing index came in at +11, up from +6 in the previous month. However, confidence among non-manufacturers dipped from +31 to +26.
In Japan, the Nikkei 225 slid 177.39 points, or 0.4%, to 41,097.69.
Japanese authorities likely intervened in the currency market last Thursday and Friday, spending a total of 6 trillion yen ($37.9 billion) over the two days, according to Reuters.
The yen is currently at 158.36 against the U.S. dollar. The currency weakened to 161.82 last Wednesday before strengthening to as much as 157.41 the following day.
In Hong Kong, the Hang Seng index recovered 11.43 points, or 0.1%, to 17,737.41.
Australian gold miners Northern Star Resources rose more than 3% and Bellevue Gold picked up almost 2%. Evolution Mining and Newmont Corporation climbed more than 2%.
The Taiwan Weighted Index fell 0.77% after a report cited U.S. Republican presidential candidate Donald Trump saying that Taiwan should pay the U.S. for defense.
Shares of Taiwanese chip manufacturer TSMC fell as much as 2.36%.
HSBC Holdings announced on Wednesday that it has appointed Georges Elhedery as group CEO, with effect from Sept. 2. Elhedery, who is the company’s chief financial officer, will replace Noel Quinn. The bank’s Hong Kong shares were marginally down.
Singapore’s non-oil domestic exports dropped more than expected in June, marking a fifth straight month of declines. They fell 8.7% year on year compared to a 1.2% decline expected by economists polled by Reuters.
On a month-on-month basis, Singapore’s non-oil domestic unexpectedly dropped 0.4%, compared with a expectations of a 4.1% growth.
In other markets
In Shanghai, the CSI 300 advanced 3.3 points, or 0.1%, to 3,501.58.
In Singapore, the Straits Times Index inched up 1.66 points, or 0.1%, to 3,489.57.
In Korea, the Kospi index subtracted 22.8 points, or 0.8%, to 2,843.29
In Taiwan, the Taiex index stumbled 303.88 points, or 1.5%, to 19,412.22
In New Zealand, the NZX 50 gained 107.54 points, or 0.9%, to 12,292.03.
In Australia, the ASX 200 rallied 58.58 points, or 0.7%, to 8,057.90.
