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Asia Mixed as Rally Slows

Stocks in Asia-Pacific were mixed on Wednesday as a recent rally bolstered by coronavirus vaccine hopes and reduced uncertainty in U.S. politics paused.

Markets in Japan saw their rally continue Wednesday, the Nikkei 225 gaining another 131.27 points, or 0.5%, to 26,296.86.

The Japanese yen traded at 104.39 per U.S. dollar, having weakened from levels below 104 against the greenback this week

In Hong Kong, the Hang Seng index climbed 81.55 points, or 0.3%, to 26,669.75.

Hong Kong-listed shares of Chinese smartphone maker Xiaomi fell 3.7%. The declines came despite the firm posting a roughly 19% year-over-year surge in its adjusted net profit for the three months ended Sept. 30.

The Australian dollar was at $0.7353, following levels below $0.732 seen yesterday.

In other markets

In Shanghai, the CSI 300 dropped 63.59 points, or 1.3%, to 4,910.70.

In Korea, the Kospi index subtracted 16.22 points, or 0.6%, to 2,601.54.

In Taiwan, the Taiex Index erased 68.3 points, or 0.5%, to 13,738.83.

In Singapore, the Straits Times Index lost 22.08 points, or 0.8%, to 2,869.55.

In New Zealand, the NZX 50 soared 114.6 points, or 0.9%, to 12,667.98

In Australia, the ASX 200 added 39.27 points, or 0.6%, to 6,683.33.