Asian Equities Close On A Mostly Negative Note

(RTTNews) - Asian markets closed on a predominantly negative note on Wednesday amidst anxiety ahead of release of PMI readings from China. Hang Seng extended losses, closing at a 1-month low. Comments from a Bank of Japan official that it was too premature to discuss Policy normalization also swayed sentiment.

China's Shanghai Composite Index declined 0.56 percent to finish trading at 3,021.69. The day's trading ranged between 3,038.98 and 3,017.66. The Shenzhen Component Index lost 0.91 percent to close at 9,744.39.

The Japanese benchmark Nikkei 225 slipped 87 points or 0.26 percent to end trading at 33,244.43. The day's trading range was between 33,516.23 and 33,179.07.

Mitsui Engineering & Shipbuilding was the top gainer with a surge of 3.6 percent. Kyocera Corp and Rakuten, both added more than 2 percent. Recruit Holdings and Dainippon Screen Manufacturing gained more than 1 percent.

Sumitomo Dainippon Pharma was the biggest laggard with a decline of 4.9 percent. Kobe Steel slipped 4.3 percent. Seven & i Holdings, GS Yuasa Corp, Kawasaki Kisen Kaisha all slipped more than 3 percent.

The Hang Seng Index of the Hong Kong Stock Exchange shed 361 points or 2.1 percent from the previous close to finish trading at 16,993.44. The day's trading range was between a high of 17,359.08 and a low of 16,881.98.

Korean Stock Exchange's Kospi Index shed 2 points or 0.08 percent to close trading at 2,519.81. The day's trading range was between 2,501.44 and 2,523.98.

Australia's S&P/ASX200 closed trading at 7,035.30, adding 20 points or 0.29 percent. The day's trading range was between 7014.10 and 7,056.60.

Link Administration Holdings surged 8.5 percent. Fisher & Paykel Healthcare rallied 7.9 percent. Perseus Mining, Emerald Resources and healthcare equipment business Healius, all recorded gains of more than 6 percent.

Core Lithium extended losses with a decline of close to 8 percent. Graincorp declined 4.8 percent followed by QBE Insurance Group that erased 3.1 percent. Sayona Mining and Karoon Energy, both slipped more than 2 percent.

The NZX 50 of the New Zealand Stock Exchange shed 10 points or 0.09 percent to close trading at 11,235.94 versus the previous close of 11,237.38. Trading ranged between 11,235.94 and 11,409.13.

EROAD extended gains with an uptick of 7.6 percent. Fisher & Paykel Healthcare followed with gains of 5.8 percent. EBOS Group added 3.8 percent whereas Mainfreight gained 2.1 percent. Freightways also gained 1.5 percent.

Pacific Edge slipped close to 5 percent, followed by Arvida Group that declined 4.7 percent. Argosy Property, ANZ Group Holdings, Meridian Energy, all slipped more than 3 percent.

Wall Street had closed with minor gains on Tuesday amidst not-so-hawkish comments from Fed officials that bolstered rate cut hopes. However, anxiety ahead of the release of the PCE readings limited gains. Nasdaq Composite added 0.29 percent to close at 14,281.76 whereas the Dow Jones Industrial Average gained 0.24 percent to finish trading at 35,416.98.