Most Asian markets closed lower on Wednesday as investors shifted their focus from the recently concluded U.S.-North Korea summit to the conclusion of the Federal Reserve’s June meeting later in the day.
In Japan, the Nikkei 225 gained 88.03 points, or 0.4%, to 22,966.38. Shippers and real estate stocks led gains for the day, while automakers rose 0.9%.
In Hong Kong, the Hang Seng Index dropped 377.91 points, or 1.2%, to 30.725.15, with declines seen across all sectors. The heavily weighted financials sector was down 0.8% before the market close. Property developers and energy stocks were also weaker.
In individual movers, shares of ZTE plunged some 40% in Hong Kong after resuming trade on Wednesday. Shares of the telecommunications equipment maker had been suspended since April after the U.S. government imposed a ban on the Chinese company from buying U.S. parts.
Australian markets sagged with most sectors in negative territory. The heavily weighted financials sub-index eased 0.6% and resource plays also pulled back. Utilities stocks rose more than 8%
Elsewhere, shares of Australia’s APA Group rose 20.9% after the company received an indicative non-binding offer led by CK Infrastructure Holdings.
Following the conclusion of the high profile summit, investors will now focus their attention on upcoming central bank meetings. The Federal Reserve will end its two-day meeting on Wednesday U.S. hours and is widely expected to announce a rate hike.
Markets will also be looking for clues on the central bank’s rate hike trajectory this year.
The European Central Bank and Bank of Japan will meet later in the week.
In other markets
Korean markets were off for holiday
In Shanghai, the CSI 300 slipped 37.61 points, or 1%, to 3,788.34
In Singapore, the Straits Times index fell back 38.18 points, or 1.1%, to 3,392.51
In Taiwan, the Taiex Index recovered 28.42 points, or 0.3%, to 11,173.21
In New Zealand, the NZX 50 gained 18.49 points, or 0.2%, to 8,977.31
In Australia, the ASX 200 slid 30.9 points, or 0.2%, to 6,023.53
This article provided by NewsEdge.