Asia-Pacific stocks mixed

Asia-Pacific markets were mixed in Wednesday trade as investors reacted to the release of China’s manufacturing activity data for September.

Hong Kong’s Hang Seng index advanced 1.18%. Shares of China Evergrande Group listed in the city soared more than 13% after the firm on Tuesday announced agreements with investors of its unit, Hengda Real Estate. Evergrande’s stock has seen a wave of volatility in recent days amid concerns over the firm’s financial situation.

Mainland Chinese markets were also higher, with the Shanghai composite up 0.45% while the Shenzhen component added 0.825%.

Japan markets were lower, with the Nikkei 225 shedding 1.06% while the Topix index declined 1.37%.

Elsewhere, Australia’s S&P/ASX 200 dropped 1.9%. Overall, the MSCI Asia ex-Japan index was 0.24% higher.

Markets in South Korea are closed Wednesday for a holiday.

Avadoot Shah

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