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Hang Seng Hits New ’23 Low

Hong Kong markets tumbled nearly 2% to a new low for 2023 as Asia-Pacific markets mostly fell on Wednesday.

In Japan, the Nikkei 225 cratered 440.26 points, or 1.4%, to 30,887.88, retreating from its 33-year high.

In Hong Kong, the Hang Seng lost 361.51 points, or 1.9%, to 18,234.27, entering bear-market territory.

Australian markets tumbled as the country’s weighted inflation rate rose more than expected to 6.8%. The reading was higher than the 6.4% expected by economists polled by Reuters.


In China, the CSI 300 index fell 39.21 points, or 1%, to 3,798.54.

China’s latest manufacturing purchasing managers index slid for a second-straight month in May to 48.8, a steeper contraction than April’s 49.2.

In other markets

In Singapore, the Straits Times index let go of 28.76 points, or 0.9%, to 3,158.80.

In Taiwan, the Taiex index subtracted 43.78 points, or 0.3%, to 16,578.96.

In Korea, the Kospi index reversed course and gave up 8.4 points, or 0.3%, to 2,577.12.

In New Zealand, the NZX 50 shed 65.71 points, or 0.6%, to 11,813.01.

In Australia, the ASX 200 slid 117.97 points, or 1.6%, to 7,091.31.