Chinese Tech, Regional Energy Stocks Surge; Asia-Pacific Markets Slip

Markets across Asia-Pacific traded mixed on Wednesday, as developments turned the focus on Chinese tech giants and regional energy stocks.

Shares of Chinese tech giants Tencent and Alibaba were monitored by investors on Wednesday after U.S. President Donald Trump signed an executive order banning transactions with eight Chinese software applications. The broader Asia-Pacific markets largely slipped. Mainland Chinese stocks declined by the afternoon, with the Shanghai composite down 0.17% while the Shenzhen component shed 0.746%. Hong Kong’s Hang Seng index dipped 0.87%.In Japan, the Nikkei 225 declined 0.57% while the Topix index traded slightly higher. South Korea’s Kospi shed 0.44%. Stocks in Australia slipped, with the S&P/ASX 200 down 1.22%. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.35%.

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