Shares in Asia-Pacific were mostly lower on Wednesday, with stocks in Hong Kong seeing a partial bounce back from a two-day rout.
In Japan, the Nikkei 225 reversed 388.56 points, or 1.4%, to 27,581.66.
Mitsubishi Motors’ stock in Japan surged 8.4% on Wednesday after the automaker upgraded its operating profit forecast by 33.3% for the fiscal year ending March 31, 2022.
Shares of Apple supplier stocks in Asia-Pacific were also watched by investors after the tech giant warned that chip supply constraints could impact iPhones and iPads this quarter.
The Japanese yen traded at 109.95 per U.S. dollar, stronger than levels above 110.4 seen against the greenback earlier this week.
Over in Taiwan, shares of Hon Hai Precision Industry dropped 0.9% while Taiwan Semiconductor Manufacturing Company’s stock slipped 0.17%.
In Hong Kong, the Hang Seng recovered 387.45 points, or 1.5%, to 25,473.88, That followed a more than 8% decline over two days earlier this week triggered by regulatory fears over sectors such as technology and private education.
Chinese tech stocks in Hong Kong, among the hardest hit in the recent sell-off, rose on Wednesday.
Shares of internet giant Tencent in Hong Kong gained 0.3% while Alibaba rose 1.8% and Meituan surged 7.5%.
Electric vehicle maker Xpeng’s Hong Kong-listed shares plummeted 7.9%, mirroring losses seen for its U.S.-listed stock overnight.
Stocks of firms in the private education space, another sector hit by regulatory scrutiny, bounced back after heavy losses earlier in the week: New Oriental Education & Technology Group gained 9.7% while Koolearn Technology jumped 9.2%.
In Wednesday trade, shares of Murata Manufacturing in Japan fell 0.6% while South Korea’s LG Display edged 1.8% higher.
Elsewhere, South Korea on Wednesday reported its highest-ever daily increase in COVID infections.
Australia’s consumer price index rose 0.8% in the June 2021 quarter, according to data released Wednesday by the country’s Bureau of Statistics.
The COVID situation regionally may also have weighed on investor sentiment, with movement restrictions across Australia’s Greater Sydney area extended for four weeks on Wednesday.
The Australian dollar changed hands at $0.7343, above levels below $0.732 seen last week.
In other markets
In Shanghai, the CSI 300 inched forward 9.17 points, or 0.2%, to 4,760.43.
The Kospi index in Korea edged up 4.33 points, or 0.1%, to 3,236.86.
In Taiwan, the Taiex index dumped 134.65 points, or 0.8%, to 17,135.22
In Singapore, the Straits Times Index crept ahead 2.94 points, or 0.1%, to 3,141.75.
In New Zealand, the NZX 50 regained 5.01 points to 12,595.32
In Australia, the ASX 200 lost 52.07 points, or 0.7%, to 7,379.29
