By Dow Jones Newswire
Asian stock markets started lowed Wednesday, even as worries eased over Turkey’s currency crisis. Benchmarks in Taiwan, Hong Kong and China were down about 1%, with tech stocks continuing to sell off.
Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK -3.67% fell 0.7% after jumping 2.3% Tuesday. The pullback comes as the yen has weakened some; the dollar /zigman2/quotes/210561789/realtime/sampled USDJPY -1.3670% was last at ¥111.30 versus ¥111.15 in late New York trade. The oil and coal-products sector was off 0.5% amid fresh declines in crude prices, with Japan Petroleum Exploration /zigman2/quotes/201212147/delayed JP:1662 -5.83% down 1.4%. Also, highflying SoftBank /zigman2/quotes/207303954/delayed JP:9984 -4.31% pulled back 2.6%, as tech stocks retreated as well.
In Hong Kong, the Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -2.42% fell 1.5%. Tencent /zigman2/quotes/204605823/delayed HK:700 -3.31% dropped 3.6%, ahead of its after-the-bell second-quarter earnings report. Sunny Optical /zigman2/quotes/206687505/delayed HK:2382 -5.24% , which plunged a record 24% Tuesday following its second-quarter report, fell a further 0.9%.
Chinese stocks were down about 1% despite a liquidity injection by the People’s Bank of China . The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP -3.71% was off 2% and the Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 -4.93% was off 2%. Nanjing Putian Telecom /zigman2/quotes/207685992/delayed CN:200468 -2.68% resumed trading after a 16-month suspension, and plunged 31% to hit six-year lows. Meanwhile, troubled vaccine maker Changsheng logged its 22nd-straight drop.
Taiwan’s Taiex fell more than 1% as lens maker Largan Precision Co. /zigman2/quotes/210444196/delayed TW:3008 -3.28% dropped 3.7%, putting this week’s swoon at 13%. Taiwan Semiconductor /zigman2/quotes/207385621/delayed TW:2330 -0.78% sank 0.8%.
Australia’s ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -3.25% bucked the trend, up slightly, although banking heavyweight Commonwealth Bank of Australia /zigman2/quotes/200638713/delayed AU:CBA -3.14% fell amid accusations that it broke pension-fund rules . Stocks in New Zealand /zigman2/quotes/211587880/delayed NZ:NZ50GR -1.54% were up slightly as well.
Malaysia’s benchmark index /zigman2/quotes/210598052/delayed MY:FBMKLCI -1.52% was about flat, while Singapore’s /zigman2/quotes/210597985/delayed SG:STI -3.23% dipped. South Korea’s Kospi was closed for a holiday.