Home Stocks Asian stocks a bit of a mess, with widespread declines

Asian stocks a bit of a mess, with widespread declines

4 min read

Asian stock markets posted broad declines in early trading Wednesday, after Wall Street finished weakly following a holiday weekend and European markets fell further after a pause on Monday.

There were broad early declines for Japanese stocks, even though the Nikkei

NIK, -0.29%

  was only down 0.3%. Just five of the Topix’s 33 subindexes were higher. Shippers, airlines and real-estate firms led the declines, with Mitsui O.S.K. Lines

9104, -2.07%

  down 2.2% and Mitsui Fudosan

8801, -1.60%

  off 2%. Amid trade and emerging-market worries, there’s also the aftermath of Typhoon Jebi, though few stocks appeared affected so far by the damage it caused in Japan.

Jebi, the most powerful typhoon to hit Japan in 25 years killed at least seven people and inflicted widespread damage to Japan’s west coast, and forced the indefinite closure of one of the country’s largest airports.

After a rebound Tuesday, Hong Kong stocks were underwater again, with tech names leading the pressure. The Hang Seng

HSI, -1.65%

  was down 1.5%, with Unicom

0762, -1.77%

  and China Telecom

0728, -1.03%

  both down about 1% after jumping yesterday on the potential of the state-controlled wireless firms merging. Meanwhile, internet giant and index heavyweight Tencent

0700, -2.48%

  was down 2.5%, reversing Tuesday’s rebound.

Chinese stocks opened lower after a weeklong losing streak ended Tuesday. The Shanghai Composite

SHCOMP, -0.92%

  was down 0.6% and the Shenzhen Composite

399106, -0.72%

  fell 0.4%.

Australia’s benchmark

XJO, -0.94%

  was down some 0.7% despite new data that found the economy posted stronger-than-expected second-quarter GDP growth. Stocks were also down in New Zealand

NZ50GR, -0.57%



005930, -1.15%

  sank more than 1%, dragging down South Korea’s Kospi

SEU, -0.17%

 . Benchmark indexes in Taiwan

Y9999, +0.05%

 , Singapore

STI, -0.81%

  and Malaysia

FBMKLCI, -0.30%

  also declined.

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