SINGAPORE – Asia-Pacific stocks were significantly lower during Wednesday’s trading as concerns about the world’s recovery from the pandemic weighed on investor sentiment.
Japan’s Nikkei 225 fell 1.1% in morning trading, while the Topix index fell 1.49%. In South Korea, the Kospi fell 0.11%.
Mainland Chinese stocks also fell slightly, with the Shanghai composite falling 0.5%, while the Shenzhen component lost 0.308%. Hong Kong’s Hang Seng index fell 0.49%.
Stocks in Australia went against the general trend regionally as the S & P / ASX 200 gained 0.55%.
MSCI’s widest index of Asia-Pacific stocks outside Japan was down 0.43%.
Many regions around the world are seeing an increase in new Covid-19 cases as highly contagious variants continue to spread, the World Health Organization said earlier this week. In Europe, authorities continue to grapple with the virus as the region fights a third wave of Covid.
In terms of business developments, Chinese internet giant Tencent will announce its fourth quarter and full-year results on Wednesday. Shares of Tencent in Hong Kong were up more than 1% in Wednesday morning trading.
In Taiwan, shares of chip maker Taiwan Semiconductor Manufacturing Company fell more than 2% in Wednesday morning trading. That came after Intel announced it will spend $ 20 billion to build two new chip factories in Arizona.
Meanwhile, Chinese streaming company Bilibili announced on Tuesday that it will pick up 20.2 billion Hong Kong dollars (about 2.6 billion dollars) from its upcoming secondary stock exchange listing in Hong Kong, after pricing its shares at 808 Hong Kong dollars each. Bilibili’s shares are expected to start trading in Hong Kong on Monday.
Currencies and oil
The US dollar index, which tracks the greenback against a basket of its peers, was at 92,383 after rising from levels below 91.8 earlier this week.
The Japanese yen traded at 108.54 per dollar, compared to levels around 108.9 against the dollar seen earlier this week. The Australian dollar changed hands at $ 0.761 after falling from above $ 0.768 yesterday.
Oil prices were mixed in the morning of trading hours in Asia, with an international benchmark for Brent crude oil futures rising 0.13% to $ 60.87 a barrel. US crude oil futures were below the flatline, trading at $ 57.75 a barrel.