Asia Mixed Wednesday Amid Global Tensions - InvestingChannel

Asia Mixed Wednesday Amid Global Tensions

Asia markets traded mixed on Wednesday, after U.S. equities tumbled overnight in another volatile session as investors await the Fed meeting statement later stateside. Oil and gold prices also jumped on Russia-Ukraine tensions.

In Japan, the Nikkei 225 dumped 120.01 points, or 0.4%, to 27,011.33. In other currencies, the Japanese yen traded at 113.93 per U.S. dollar,

The Hang Seng Index in Hong Kong regained 46.29 points, or 0.2%, to 24,289.90.

Chinese tech stocks recovered slightly after losses the day before, with Tencent rising 0.9%, and JD up 1.4%.

Meanwhile, embattled property developer Evergrande is reportedly set to hold a call with investors together with its financial advisors on Wednesday night during Asia hours, Reuters reported, citing sources. That would be Evergrande’s first call since it defaulted on some offshore bond payments last month.

Evergrande shares last rose 1.7%.

Meanwhile, the International Monetary Fund downgraded its global growth forecast for this year as rising COVID-19 cases, supply chain disruptions and higher inflation hamper economic recovery.

It said in a report published Tuesday that it expects global gross domestic product to weaken from 5.9% in 2021 to 4.4% in 2022 — with this year’s figure being half a percentage point lower than previously estimated.

In Australia, markets were closed for Australia Day. Meanwhile the Australian dollar was at $0.7156, strengthening from around $0.714 earlier.

In other markets

In China, the CSI 300 regrouped 33.86 points, or 0.7%, to 4,712.31.

In Korea, the Kospi index doffed 11.15 points, or 0.4%, to 2,709.24.

In Taiwan, the Taiex lost 26.72 points, or 0.2%, to 17,674.40

In Singapore, the Straits Times Index re-strengthened 23.81 points, or 0.7%, to 3,271.57.

In New Zealand, the NZX 50 recovered 57.44 points, or 0.5%, to 12,185.65.

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