Asia Pacific Stocks Slip; Investors continue to watch Chinese stocks

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SINGAPORE – Asia Pacific stocks fell in trading Wednesday morning after major Wall Street indices slid from their respective highs touched in the previous session overnight.

In Japan, the Nikkei 225 lost 0.82% in early trading while the Topix index lost 0.48%. South Korea’s Kospi lost 0.13%.

The S & P / ASX 200 in Australia lost 0.11%. Australian consumer price index for the second quarter will be released on Wednesday at 9.30am HK / SIN.

MSCI’s broadest index for Asia Pacific stocks outside of Japan was down 0.13%.

Investors will continue to watch Chinese stocks after a sell-off this week that caused the Hang Seng index in Hong Kong to fall more than 8% in two days.

Stocks of Apple suppliers in Asia Pacific were also watched by investors after the tech giant warned that chip supply shortages could affect iPhones and iPads this quarter.

In Wednesday morning trading, Murata Manufacturing shares in Japan fell 1.2%, while South Korean LG Display rose 0.67%.

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Overnight, the Dow Jones Industrial Average fell 85.79 points to 35,058.52 while the S&P 500 fell 0.47% to 4,401.46. The Nasdaq Composite fell 1.21% to 14,660.58.

Currencies

The US dollar index, which tracks the greenback versus a basket of its competitors, hit 92.457 after falling over 92.7 recently.

The Japanese yen was trading at 109.81 per dollar, stronger than levels above 110.4 seen against the greenback earlier this week. The Australian dollar changed hands at $ 0.7365, above the below $ 0.732 level hit last week.

Oil prices were higher on the morning of Asian trading hours, with international benchmark Brent crude oil futures rising 0.3% to $ 74.70 a barrel. US crude oil futures rose 0.47% to $ 71.99 a barrel.

Here’s a look at what’s on tap:

  • Australia: Consumer Price Index for the second quarter at 9.30am HK / SIN