CANBERA (dpa-AFX) - Stock markets in Asia ended trading on a mixed note amidst recovery in the Chinese benchmarks and a muted sentiment in the other bourses. Beijing pledging further support for growth helped a rebound in the Chinese indexes whereas the Japanese stocks tracked the overnight losses in Wall Street.
China's Shanghai Composite Index recovered 72 points or 2.49 percent to finish at 2,958.28. The day's trading ranged between 2,863.65 and 2,959.18. The Shenzhen Component Index soared 4.37 higher to close at 10,652.90.
The Japanese benchmark Nikkei 225 declined 313 points or 1.17 percent to end Wednesday's trading at a two-week low of 26,386.63.
Beverage business Sapporo Holdings led the price charts with a more than 7 percent overnight rally. Logistics business Nippon Yusen gained almost 5.5 percent. Utilities business Osaka Gas and beer maker Asahi Group Holdings have both gained more than 4 percent. International shipping business Mitsui O.S.K lines has gained 3.8 percent.
Packaged food maker Kikkoman Corp plunged more than 12 percent following disappointing quarterly results announcement. Fanuc Corp, Cyber Agent, and Yokohama Rubber, all dropped more than 5 percent. Nomura Holdings declined a little less than 5 percent. The Hang Seng Index of the Hong Kong Stock Exchange gained 23 points or 0.12 percent from previous close to finish trading at 19,958.00.
Korean Stock Exchange's Kospi Index shed 29 points or 1.10 percent to close at 2,639.06. The day's trading range was between 2,591.53 and 3316.08. Australia's S&P/ASX200 closed trading at a 20-day low of 7,261.20 after dropping 57 points or 0.78 percent.
Whitehaven Coal was the top gainer with a 5.5 percent surge. Commercial and professional services business Downer Edi followed with a 4.7 percent rally. Minerals business Champion Iron, insurance company NIB Holdings and materials business South32 gained more than 3 percent.
Life360 plunged more than 29 percent following scrapping of its U.S. listing plans. Diversified financials business Credit Corp Group and gambling business PointsBet Holdings dropped close to 9 percent. EML Payments and materials business Northern Star Resources declined more than 5 percent.
The NZX50 of the New Zealand Stock Exchange shed 87 points or 0.73 percent to close at 11,1726.39.
Utilities business Contact Energy was the best performer with a 2.6 percent gain. Apparel manufacturer KMD brands and utilities company Infratil are the other gainers with a 1.5 percent uptick.
Building products maker Fletcher Building, IT services provider Pushpay Holdings, REIT Goodman Property, have all lost more than 3 percent. Entertainment business Sky Network Television and financial services business Heartland Group have both gained more than 2 percent.
The Wall Street had plunged heavily on Tuesday as worries of aggressive rate hikes by the Fed had triggered concerns of a recession in the economy. Tesla's plunge following the Musk-Twitter deal also added to the negative sentiment. Nasdaq-100 shed 3.87 percent to close at 13,009.71 and the Dow Jones Industrial Average dropped 2.38 percent to end at 33,240.18.
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