Asia-Pacific Markets Decline With Hong Kong Posting Losses

Asia-Pacific Markets Decline With Hong Kong Posting Losses

Asia-Pacific markets decline with Hong Kong posting losses. Shares in Asia-Pacific were down in Wednesday trade.  Chinese tech stocks showed Hong Kong's lead losses.

The shares of Tencent plunged 3.15% while Alibaba dropped 3.07% and Meituan fell 4.1%. The Hang Seng Tech index declined 3.32%.

The broader Hang Seng index in Hong Kong fell 1.52%.

Mainland Chinese stocks also dropped, with the Shanghai composite declining 0.92% and the Shenzhen component slipping 1.13%.

Industrial profits in China jumped 16.3% year-on-year in September, the data released Thursday by China’s National Bureau of Statistics shows.

Japan’s Nikkei 225 shed 0.55%, the Topix index fell 0.54%, and South Korea’s Kospi also dipped 0.92%.

According to Wednesday’s data from the country’s Bureau of Statistics, Australia’s consumer price index surged 0.8% in the September 2021 quarter.

Overnight stateside, the Dow Jones Industrial Average climbed 15.73 to reach 35,756.88 while the S&P 500 jumped 0.18% to close at 4,574.79. The Nasdaq Composite surged to around 15,235.72.

The Australian dollar was at $0.7519 following the data release, against an earlier low of $0.7495.

The U.S. dollar index traded at 93.906 following a recent surge to levels around 94.

The Japanese yen reached 113.96 per dollar, following levels around 114.2 seen earlier against the greenback.

Oil prices dropped in the afternoon of Asia trading hours, with international benchmark Brent crude futures dipping 0.53% to $85.94 per barrel. U.S. crude futures slipped 0.72% to $84.04 per barrel.