Asia-Pacific stocks were mixed as investors digest incoming results of the United States midterm elections and China’s annualized producer prices fell for the first time in October since December 2020.
In Japan, the Nikkei 225 dropped 270.33 points, or 1%, to 27,446.10.
In Hong Kong, the Hang Seng fell 277.48 points, or 1.7%, to 16,081.04.
Shares of technology companies listed in the city fell sharply in the afternoon, with Tencent falling 4.48% and Meituan losing 4.5%. Hong Kong-listed shares of Alibaba also fell 2.61% and Xiaomi also fell 2.07%.
Electric vehicle makers also saw sharp losses, with BYD declining 6% and Xpeng dropped more than 7.2% and Nio fell 5.5%.
Cathay Pacific Airways announced Ronald Lam will be appointed as its new CEO, replacing Augustus Tang, who asuumed the role in August 2019.
Lam, the current chief customer and commercial officer, will take on the role on Jan. 1.
Shares of the airline gained 0.26% in the morning session, while the wider Hang Seng index dropped more than 1.5%.
CHINA
In Shanghai, the CSI 300 ditched 28.58 points, or 0.8%, to 3,685.69.
The Chinese yuan weakened past 7.25-levels against the U.S. dollar after its latest economic data release.
In other markets
In Taiwan, the Taiex retreated 135.05 points, or 1%, to 13,503.76.
In Korea, the Kospi index lost 22.18 points, or 0.9%, to 2,402.23.
In Singapore, the Straits Times Index added 7.68 points, or 0.6%, to 3,165,50.
In Australia, the ASX 200 slipped 35.28 points, or 0.5%, to 6,964.02.
In New Zealand, the NZX 50 doffed 51.55 points, or 0.5%, to 11,091.93.