Shares in Asia-Pacific were mixed on Thursday as oil prices fell sharply.
In Japan, the Nikkei 225 lost 205.82 points, or 0.7%, to 27,821.43.
The Japanese yen traded at 121.45 per U.S. dollar, still stronger than levels above 124 seen against the greenback earlier this week.
In Hong Kong, the Hang Seng index unloaded 235.16 points, or 1.1%, to 21,996.85.
Shares of Baidu in the city tumbled more than 3% after the firm was added to a U.S. Securities and Exchange Commission list of companies potentially facing delisting from U.S. exchanges.
In the afternoon of Asia trading hours, international benchmark Brent crude futures fell 3.48% to $109.50 per barrel. U.S. crude futures dropped 4.23% to $103.26 per barrel.
U.S. President Joe Biden’s administration is reportedly considering a plan to release one million barrels of oil per day from the strategic petroleum reserve for about six months. Global oil prices have spiked in volatile trade since Russia invaded Ukraine more than a month ago.
The Australian dollar was at $0.7477, having largely traded in a range between $0.747 and $0.753 so far this week.
CHINA
In Shanghai, the CSI 300 removed 31.5 points, or 0.7%, to 4,222.60.
Chinese factory activity shrunk in March, according to official data released Thursday. The country’s official manufacturing Purchasing Managers’ Index for March came in at 49.5, lower than February’s reading of 50.2.
The 50-point mark in PMI readings separates growth from contraction. PMI readings are sequential and represent month-on-month expansion or contraction.
The data comes after an independent survey by China Beige Book showed China’s factories were hit harder in the first quarter than last year. In recent weeks, China has also been battling its most severe Covid-19 outbreak since the pandemic began.
In other markets
In Singapore, the Straits Times Index stepped back 34.09 points, or 1%, to 3,408.52
In Korea, the Kospi index forged ahead 10.91 points, or 0.4%, to 2,757.65.
In Taiwan, the Taiex index deleted 47.09 points, or 0.3%, to 17,693.47.
In New Zealand, the NZX 50 eked up 11.46 points, or 0.1%, to 12,110.26.
In Australia, the ASX 200 retreated 14.93 points, or 0.2%, to 7,499.59.
