Asian markets showed mixed performance following a global sell-off the previous day, as Wall Street experienced declines in the technology, energy, and other sectors.
Japan’s benchmark Nikkei 225 fell 0.9% in morning trading to 36,700.19 after data revealed that wage growth remains strong. Average cash earnings in July increased by 3.6% year-on-year, surpassing market expectations, while real earnings unexpectedly rose by 0.4% in July, raising the possibility of another rate hike.
The U.S. dollar was trading at 143.81 Japanese yen.
In South Korea, the Kospi was nearly unchanged, down less than 0.1% to 2,579.93, as the country’s economy contracted by 0.2% in the second quarter, aligning with forecasts.
Hong Kong’s Hang Seng index dropped 0.4% to 17,379.83, while the Shanghai Composite index inched up 0.1% to 2,785.38.
Australia’s S&P/ASX 200 edged up 0.1% to 7,957.40.
On Wall Street, trading was choppy on Wednesday, and the market closed slightly lower. The S&P 500 slipped 0.2% to 5,520.07, and the tech-heavy Nasdaq Composite fell 0.3% to 17,084.30. The Dow Jones Industrial Average, however, edged up 0.1% to 40,974.97.
In the bond market, the yield on 10-year U.S. Treasury notes decreased to 3.76% from 3.83% late on Tuesday.
