Asia Markets: Nikkei rises, while other Asian markets edge lower

MarketWatch - Financial Services Industry News

After muted initial moves in Pacific Rim stock markets, things turned lower Wednesday as the trading day began in the rest of the region. Only in Japan were major indexes higher, with the Nikkei up 0.25%. Markets in China, Hong Kong, Australia, Malaysia
FBMKLCI, -0.34%
  and Singapore
STI, -0.89%
  were down roughly 0.5%

The Nikkei’s
NIK, +0.25%
  gains were helped by automakers, such as Toyota
7203, +1.37%
 and Honda
7267, +0.87%
 , up about 1% each. Nintendo
7974, -7.19%
  slid after announcing the popular videogame “Fortnite” would be available on its Switch console.

South Korea’s Kospi
SEU, -0.05%
  was about flat, a day after President Donald Trump’s summit in Singapore with North Korean leader Kim Jong Un, which appeared to significantly ease nuclear tensions on the peninsula.

China’s stock benchmark in Shanghai
SHCOMP, -0.75%
  opened down 0.5%, giving back some of Monday’s outperformance. That came as the People’s Bank of China said it was removing a rule that limits the amount of funds that so-called qualified foreign institutional investors can take out of China every month. That led to some apprehension of overseas players boosting any selling, said UOB Kay Hian’s Ivan Ip.

Hong Kong stocks
HSI, -0.70%
  opened lower, as ZTE
0763, -38.83%
  plunged in the resumption of trading following a two-month trading halt. Nearly 100 million shares of ZTE traded within the first 15 minutes, making it the second-busiest day since the day it went public in December 2004. The stock sunk 38% to $15.98, and earlier hit 13-month lows.

Australian stocks
XJO, -0.45%
  edged lower, despite APA Group’s
APA, +21.04%
  21% surge after Hong Kong’s CK International made a bid worth more than $9 billion for the pipeline operator.


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