Asia-Pacific markets traded mixed on Wednesday, following losses on Wall Street overnight, where a sell-off in technology stocks weighed on investor sentiment.
By 11:50 am AEDT (12:50 am GMT), Australia’s S&P/ASX 200 edged 0.1% lower. Japan’s Nikkei 225 declined 1.2%, while South Korea’s KOSPI 200 rose 0.2%.
Economic data showed continued strength in the services sector across parts of the region. The seasonally adjusted S&P Global Australia services PMI rose to 56.3 from 51.1 in December, marking the highest level since February 2022 and above the flash estimate of 56.0.
In Japan, services activity expanded at its fastest pace in nearly a year, with the S&P Global final Japan services PMI increasing to 53.7 in January from 51.6 in December, the 10th consecutive month of expansion and slightly above the flash reading of 53.4.
In the United States, major benchmarks closed lower on Tuesday. The Dow Jones Industrial Average slipped 0.3%, the S&P 500 fell 0.8%, and the Nasdaq Composite dropped 1.4%, reflecting pressure on technology stocks.
Commodity markets moved higher. Brent crude rose 1.6% to settle at $67.33 per barrel, while spot gold jumped 6.3% to $4,946.81 per ounce.
In Asia on Tuesday, China’s Shanghai Composite gained 1.3% to 4,067.7 and the CSI 300 rose 1.2% to 4,660.1.
Hong Kong’s Hang Seng Index edged up 0.2% to 26,834.8, while India’s BSE Sensex advanced 2.5% to 83,739.1.
European markets ended mostly lower. The UK’s FTSE 100 fell 0.3% to 10,314.6, Germany’s DAX declined 0.1% to 24,780.8, and France’s CAC 40 was little changed at 8,179.5.
