South Korea’s Kospi declined 3.24 per cent in the two sessions since Monday when it had advanced more than 5 per cent after the country re-imposed a ban on short selling
Most Asia-Pacific markets dropped in choppy trading on Wednesday, with South Korea’s benchmark index wiping out more than half the gains made earlier this week, while investors digested a positive business sentiment survey from Japan.
South Korea’s Kospi declined 3.24 per cent in the two sessions since Monday when it had advanced more than 5 per cent after the country re-imposed a ban on short selling.
The Reuters Tankan poll showed Japanese manufacturers’ business confidence improved for the first time since August and service-sector mood improved for a second month, underlining a challenging outlook amid a patchy economic recovery.
In South Korea, the Kospi shed 0.91 per cent to close at the 2,421.62 level. The Kosdaq slid 1.62 per cent to 811.02.
Japan’s Nikkei 225 closed 0.33 per cent down at 32,166.48, while the Topix dropped 1.16 per cent to end at 2,305.95.
Australia’s S&P/ASX 200 ended 0.26 per cent up at 6,995.40.
Hong Kong’s Hang Seng index closed 0.58 per cent at 17,568.46 while China’s CSI 300 index slid 0.24 per cent to end at 3,611.07.
Wall Street’s main indexes ended higher on Tuesday, with the S&P 500 and Nasdaq Composite clocking their longest winning streaks in nearly two years.
The S&P 500 ended 0.28 per cent higher, while the Nasdaq climbed 0.9 per cent. The Dow Jones Industrial Average rose 0.17 per cent at close.
The S&P 500 gained for a seventh successive day for the first time since its eight-day win streak in November 2021. The Nasdaq posted eight days of wins for the first time since an 11-day streak ended in November 2021. The Dow increased for a seventh consecutive session for its longest streak since July.