Asia-Pacific markets were mostly lower on Wednesday, tracking losses on Wall Street after a sell-off in U.S. tech stocks weighed on sentiment, while gold extended gains for a second day in a row.
Japan’s Nikkei 225 lost 1.2%, dragged by technology stocks. Among the biggest losers on the index were chip maker Lasertec, which fell 7%, and game maker Konami Group, which lost 5.8%. Japanese semiconductor giant Tokyo Electron also fell 3.2%.
The Topix fell 0.39%.
Australia’s S&P/ASX 200 reversed direction and rose 0.45%.
South Korea’s Kospi advanced 0.4%, while the small-cap Kosdaq added 1.01%.
Shares in Nintendo fell more than 9%, despite maintaining its full-year sales forecast for the Switch 2 console, as investors weighed several potential headwinds for the gaming giant, including whether the firm would be affected by an unprecedented rise in the price of memory – a key component in its consoles.
Hong Kong’s Hang Seng index fell by 0.1%, while the CSI 300 fell by 0.28%, SEEbiz reports.
Spot gold rose more than 1% to $5,002 an ounce, while spot silver rose 0.69% to $85.70 an ounce.
