Investing.com – Asian stocks were mixed on Wednesday, as shares in the commodity sector led markets lower, while shares in Japan were weighed by downbeat manufacturing data.
During late Asian trade, Hong Kong's Hang Seng Index tumbled 2.17%, South Korea's Kospi Composite added 0.42%, while Japan’s Nikkei 225 Index shed 0.07%.
Earlier in the day, the Bank of Japan said that its Tankan manufacturing index fell for the first time since March 2009, declining to 5.0 points in the fourth quarter, after rising to 8.0 points in the preceding quarter.
Following the release of the data, shares in Japan’s largest steel producer Nippon Steel Corporation plunged 1.31%, rivals JFE Holdings saw shares slump 1.21%, while shares in Sumitomo Metal Industries plunged 1.91%.
Meanwhile, shares in many of the big name Japanese exporters were mixed. Shares in the world’s largest automaker Toyota added 0.92%, shares in electronics maker Sharp tumbled 1.55%, while shares in the world’s largest maker of digital cameras Canon added 0.37%.
Elsewhere, in Hong Kong, shares in the commodity sector led declines as crude oil and metal prices retreated. Shares in China’s largest offshore oil producer Cnooc plunged 3.03%, oil and gas giant Sinopec saw shares tumble 3.76%, while shares in the nation’s largest copper producer Jiangxi Copper slumped 1.79%.
Meanwhile, Australia’s S&P/ASX 200 Index gained 0.02% as gains were limited after shares in the world’s largest surf-wear retailer Billabong tumbled 8.89% after it warned that its first half profit will fall up to13% from the year ago period, citing weak sales and the strong Australian dollar.
The outlook for European equity markets, meanwhile, was downbeat. The EURO STOXX 50 futures pointed to a drop of 0.45%, France’s CAC 40 futures indicated a loss of 0.34%, the FTSE 100 futures pointed to a decrease of 0.36%, while Germany's DAX futures were down 0.28%.
Earlier in the day, ratings agency Moody’s put Spain's Aa1 sovereign credit rating on review for a possible downgrade, citing its high funding needs, doubts over its banking sector and concerns surrounding regional finances.
During late Asian trade, Hong Kong's Hang Seng Index tumbled 2.17%, South Korea's Kospi Composite added 0.42%, while Japan’s Nikkei 225 Index shed 0.07%.
Earlier in the day, the Bank of Japan said that its Tankan manufacturing index fell for the first time since March 2009, declining to 5.0 points in the fourth quarter, after rising to 8.0 points in the preceding quarter.
Following the release of the data, shares in Japan’s largest steel producer Nippon Steel Corporation plunged 1.31%, rivals JFE Holdings saw shares slump 1.21%, while shares in Sumitomo Metal Industries plunged 1.91%.
Meanwhile, shares in many of the big name Japanese exporters were mixed. Shares in the world’s largest automaker Toyota added 0.92%, shares in electronics maker Sharp tumbled 1.55%, while shares in the world’s largest maker of digital cameras Canon added 0.37%.
Elsewhere, in Hong Kong, shares in the commodity sector led declines as crude oil and metal prices retreated. Shares in China’s largest offshore oil producer Cnooc plunged 3.03%, oil and gas giant Sinopec saw shares tumble 3.76%, while shares in the nation’s largest copper producer Jiangxi Copper slumped 1.79%.
Meanwhile, Australia’s S&P/ASX 200 Index gained 0.02% as gains were limited after shares in the world’s largest surf-wear retailer Billabong tumbled 8.89% after it warned that its first half profit will fall up to13% from the year ago period, citing weak sales and the strong Australian dollar.
The outlook for European equity markets, meanwhile, was downbeat. The EURO STOXX 50 futures pointed to a drop of 0.45%, France’s CAC 40 futures indicated a loss of 0.34%, the FTSE 100 futures pointed to a decrease of 0.36%, while Germany's DAX futures were down 0.28%.
Earlier in the day, ratings agency Moody’s put Spain's Aa1 sovereign credit rating on review for a possible downgrade, citing its high funding needs, doubts over its banking sector and concerns surrounding regional finances.