Shares in Asia-Pacific mostly declined on Wednesday as official data showed China’s factory activity growing in March.
The Nikkei 225 lost 253.9 points, or 0.9%, Wednesday to 29,178.
Shares of Mitsubishi UFJ Financial Group fell 3.9% on Wednesday after the firm’s brokerage arm flagged potential losses of around $300 million U.S. due to an event at its European subsidiary in relation to an unnamed U.S. client.
That development came in the wake of the recent meltdown at Archegos Capital Management. Credit Suisse and Nomura, two prime brokers of Archegos, announced Monday that they faced losses that could be “highly significant” to the banks.
Shares of Nomura in Japan continued to see a third straight day of losses on Wednesday and fell 2.9%. Nomura’s stock plunged more than 16% on Monday.
The Japanese yen traded at 110.68 per U.S. dollar as it remained weaker than levels below 109.2 against the greenback seen last week.
In Hong Kong, the Hang Seng gave back 199.15 points, or 0.7%, to 28,378.35.
Elsewhere, shares of South Korean automaker Hyundai Motor shed 0.7%. That came after the firm announced it will temporarily suspend production at its No. 1 plant in Ulsan, South Korea, from April 7 to 14.
In a statement, Hyundai said the suspension was due to “supply conditions” of semiconductor parts for the front view camera system of the Kona sport utility vehicle as well as power electric modules for the Ioniq 5.
The Australian dollar changed hands at $0.761, having slipped from around $0.765 yesterday.
CHINA
In China, the CSI 300 dropped 46.77 points, or 0.9%, to 5,048.36.
In economic developments, official data showed China’s factory activity expanded at a faster-than-expected pace in March.
The official manufacturing Purchasing Managers’ Index (PMI) came in at 51.9, according to the National Bureau of Statistics — compared to February’s reading of 50.6. Analysts had expected a reading of 51 for March.
PMI readings above 50 signify expansion while those below that level represent contraction. PMI readings are sequential and represent month-on-month expansion or contraction.
In other markets
In Taiwan, the Taiex fell 123.77 points, or 0.8%, to 16,413.13.
In Korea, the Kospi index deleted 8.58 points, or 0.3%, to 3,061.42.
In Singapore, the Straits Times index came down 25.55 points, or 0.8%, to 3,165.34.
In New Zealand, the NZX 50 defied the tide and gained 113.94 points, or 0.9%, to 12,560.70
In Australia, the ASX 200 added 52.22 points, or 0.8%, to 6,790.67.