The logo of the Tokyo Stock Exchange (TSE), operated by Japan Exchange Group Inc. (JPX), is displayed at the bourse in Tokyo, Japan, on Friday, Oct. 2, 2020.
Akio Kon | Bloomberg via Getty Images
Shares in the Asia-Pacific fell in Wednesday trade following a negative lead from Wall Street, and as investors digest China’s factory activity data.
Hong Kong’s Hang Seng index fell 1.38%, and the Hang Seng Tech index slipped 1.74%. Heavyweight Alibaba lost 3.3%.
The Shanghai Composite in mainland China dipped 0.36%, and the Shenzhen Component shed 0.78%.
China’s official manufacturing Purchasing Managers’ Index for August beat expectations slightly, coming in at 49.4, official data showed. The non-manufacturing PMI was at 52.6.
The Nikkei 225 in Japan shed 0.52%, and the Topix index slipped 0.56%.
Australia’s S&P/ASX 200 declined 0.34%. In South Korea, the Kospi traded 0.46% while the Kosdaq was up 0.2%.
MSCI’s broadest index of Asia-Pacific shares outside Japan lost 0.75%.
Overnight on Wall Street, major stock indexes fell for a third straight session.
The S&P 500 dipped 1.1% to 3,986.16, falling below the 4,000 level for the first time since July. The Nasdaq Composite dropped 1.1%, to close at 11,883.14, and the Dow Jones Industrial Average shed 308.12 points, or nearly 1%, to 31,790.87.
“Equity markets continued to be impacted by expectations central banks will keep their foot on the accelerator in terms of rate hikes,” Brian Martin and Daniel Hynes of ANZ Research wrote in a note Wednesday.
On Tuesday stateside, New York Federal Reserve President John Williams said he sees rates rising further and staying at those levels until inflation is subdued.
— CNBC’s Tanaya Macheel, Jesse Pound and Jeff Cox contributed to this report.
