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Asian stocks retreated on Wednesday, with renewed U.S.-China trade tensions and mixed U.S. earnings keeping investors on edge. <\/p>\n
Technology stocks paced the declines after a rally on Wall Street showed signs of fatigue.<\/p>\n
China’s Shanghai Composite index finished marginally lower at 3,913.76 after U.S. President Donald Trump cast doubt on whether or not he will meet with Chinese leader Xi Jinping at a regional summit next week. <\/p>\n
Hong Kong’s Hang Seng index fell 0.94 percent to 25,781.77 on concerns that higher U.S. tariffs and other trade issues could impact the semiconductor industry.<\/p>\n
Japanese markets<\/span> ended little changed, reversing initial losses after reports suggested that the new premier is preparing a sizeable stimulus package that could exceed last year’s 13.9 trillion yen ($92.19 billion).<\/p>\n The Nikkei average finished marginally lower at 49,307.79 following two days of strong gains to record highs. <\/p>\n The broader Topix index settled 0.52 percent higher at 3,266.43 after data showed Japan’s exports rose for the first time in five months in September due to a boost from a weak yen.<\/p>\n Tech companies led losses, with technology<\/span> investor SoftBank Group tumbling 4.9 percent and semiconductor test equipment supplier Advantest falling 1.7 percent.<\/p>\n Seoul stocks rallied as Trump embarks on a high-stakes Asian tour aiming to ease global trade tensions, rebuild alliances, and secure major investment deals.<\/p>\n The Kospi average jumped 1.56 percent to 3,883.68, extending its winning streak to a sixth day and closing at a new record high, led by gains in chipmakers and automakers.<\/p>\n LG Chem soared 13 percent after London-based hedge fund Palliser Capital said the company’s stock could double in value if the company refreshes its board buys back shares. <\/p>\n Likewise, LG Energy Solution surged 4 percent following Palliser Capital’s report on the firm.<\/p>\n Australian markets retreated from record highs as gold miners succumbed to heavy selling pressure after stellar rally. Sector heavyweights like Northern Star Resources and Evolution Mining plummeted 9-10 percent.<\/p>\n Banks and energy stocks rose, helping limit the downside in the broader market. The benchmark S&P\/ASX 200 dipped 0.71 percent to 9,030 while the broader All Ordinaries index fell 0.73 percent to 9,321.10. <\/p>\n Across the Tasman, New Zealand’s benchmark S&P\/NZX-50 index ended down 0.53 percent at 13,306.44, snapping a two-day winning streak. <\/p>\n The dollar was steady in Asian trade while gold extended losses after Tuesday’s record dip. <\/p>\n Oil prices pushed higher for a second day, with sanctions-related supply risks and an unexpected dip in U.S. crude oil inventories offering support. <\/p>\n U.S. stocks ended mixed overnight after ending notably higher over the two previous sessions. <\/p>\n The narrower Dow rose half a percent to reach a new record closing high following generally upbeat results from the likes of 3M, Coca-Cola, General Motors and GE Aerospace.<\/p>\n The S&P 500 finished marginally higher while the tech-heavy Nasdaq Composite dipped 0.2 percent after President Trump said his expected meeting next week with Chinese President Xi Jinping might yet be cancelled. <\/p>\n<\/p>\n<\/div>\n