The Asian equity benchmarks are trading mixed on Wednesday despite a strong start to the week due to profit-taking as investors lacked conviction to buy risky assets before a US policy meeting next week that may see interest rates rising for the second time in three months. The Japanese market is extending losses from the previous session after US stocks closed lower overnight for a second straight day. In addition, a stronger yen weighed on exporters' stocks. Among the other Asian markets, Hong Kong, Singapore Shanghai, South Korea, and Taiwan are higher. Bucking the trend, Malaysia and Indonesia are edging lower.
Hang Seng rose 118.93 points or 0.50% to 23,800.00, KOSPI Index gained 1.33 points or 0.06% to 2,095.38, Taiwan Weighted added 25.61 points or 0.26% to 9,763.68, Straits Times increased 11.56 points or 0.37% to 3,142.00, and Shanghai Composite was up by 1.34 points or 0.04% to 3,243.75.
On the flip side, Nikkei 225 declined 106.05 points or 0.55% to 19,238.10, Jakarta Composite slipped 1.30 points or 0.02% to 5,401.31, and FTSE Bursa Malaysia KLCI was down by 1.96 points or 0.11% to 1,726.70.