Asia-Pacific equities were down on Wednesday as investors reacted to a speech by Chinese President Xi Jinping.
In Japan, the Nikkei 225 gained 24.95 points, or 0.1%, to 23,626.73.
The Japanese yen traded at 105.39 against the US dollar, after seeing levels around 105.3 against the greenback earlier in the trading week.
In Hong Kong, the Hang Seng Index returned from a day of suspension by a typhoon with marginal gains of 17.41 points, or 0.1%, to 24,667.09.
The Hong Kong-listed shares of China Evergrande group fell 16.96% after the company announced a stock offering with gross proceeds estimated at HK $ 4.3 billion (US $ 555 million) .
This follows reports that the company was seeking to raise up to US $ 1.1 billion through the placement of shares. The real estate developer has been in the spotlight recently amid concerns about his cash position.
Shares of Apple suppliers in the region were also monitored on Wednesday after the Cupertino-based tech giant unveiled its latest iPhone line on Tuesday.
In Japan, Taiyo Yuden shares slipped 0.3% while Murata Manufacturing added 0.6%. In South Korea, LG Display jumped 1.9%. Largan Precision’s share in Taiwan fell 0.7% while Taiwan Semiconductor Manufacturing Company lost 0.7%.
Singapore stocks fell, after official estimates showed the country’s economy contracted 7% in the third quarter compared to a year ago.
The Aussie dollar changed hands at $ 0.7172 after declining this week from levels above $ 0.72.
In Shanghai, the CSI 300 lost 32.7 points, or 0.7%, to 4,807.10.
Investors reacted to Xis’ speech in Shenzhen on Wednesday, as the Shenzhen Special Economic Zone celebrated its 40th anniversary.
Xi stressed the importance of protecting “the rights and legitimate interests of entrepreneurs, property rights as well as intellectual property rights in accordance with the law,” according to a translation of his speech. It would “motivate entrepreneurs to start and grow their business,” he said.
State media Xinhua reported on Sunday that the country “unveiled a new comprehensive reform plan for Shenzhen,” giving local authorities a “more direct and greater voice in business” in areas such as carrying out reforms. economic market-based.
In other markets
In Korea, the Kospi index fell 22.67 points, or 0.9%, to 2,380.48.
In Taiwan, the Taiex index fell 8.78 points, or 0.1%, to 12,947.13.
In Singapore, the Straits Times index slipped 12.06 points, or 0.5%, to 2,555.59.
In New Zealand, the NZX 50 added 89.76 points, or 0.7%, to 12,543.61.
In Australia, the ASX 200 fell 16.58 points, or 0.3%, to 6,179.17.
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