SINGAPORE — Shares in Asia-Pacific were mixed in Wednesday trade, as data showed Japan’s economy growing faster than an earlier estimate.
Hong Kong’s Hang Seng index shed 0.5%, as of its final hour of trading.
Investors monitored shares of China Evergrande Group in Hong Kong, which briefly dropped below its IPO price in Wednesday trade before going up around 4%.
Prior to its Wednesday turnaround, the embattled property developer’s stock had dropped more than 8% so far this week, extending declines since last week after it warned that it could default.
Moody’s Investors Service on Tuesday downgrading its rating, citing “heightened liquidity and default risks.” Ratings agency Fitch also followed with a downgrade on Evergrande on Wednesday morning.
In Japan, the Nikkei 225 rose 0.89% to close at 30,181.21 while the Topix index gained 0.79% to finish the trading day at 2,079.61.
Japan’s economy saw 1.9% annualized growth in the April to June quarter, higher than the initial estimate for a 1.3% rise, revised government data showed Wednesday.
MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 0.7%.
Overnight stateside, the Dow Jones Industrial Average dropped 269.09 points to 35,100 while the S&P 500 shed 0.34% to 4,520.03. The Nasdaq Composite advanced fractionally to 15,374.33.
The mixed moves stateside came as concerns over the potential economic hit of the delta variant weighed on investor sentiment, with Goldman Sachs downgrading its U.S. economic growth outlook over the weekend.
Bitcoin’s price fell following a recent surge above $52,000. It was last trading at $45,438.19 as of 3:14 a.m. ET Wednesday, according to data from Coin Metrics. The volatile moves in the cryptocurrency’s price came as El Salvador on Tuesday officially adopted bitcoin as legal tender, becoming the first country to do so.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 92.615 following a recent climb from below 92.4.
The Japanese yen traded at 110.27 per dollar, weaker than levels below 109.8 seen against the greenback yesterday. The Australian dollar changed hands at $0.7364 after yesterday’s decline from levels above $0.744.
Oil prices were higher in the afternoon of Asia trading hours, with international benchmark Brent crude futures rising 0.33% to $71.93 per barrel. U.S. crude futures advanced 0.45% to $68.66 per barrel.