Asia-Pacific stocks were mostly quiet in early Wednesday trading, with Japanese stocks making up early losses following muted moves in the U.S. and a steady yen, while Australia’s benchmark rebounded some following Tuesday’s underperformance.
The Nikkei NIK, +0.23% turned slightly higher after edging lower following the opening bell, after posting three gains in the past four days. Some profit-taking was underway after this week’s gains were being balanced out by the dollar-yen hitting session highs of ¥109.93. That helped automakers, which jumped to start the week. Toyota 7267, -0.09% was last up more than 1%. Other export-related names were also seeing a lift, with Sony 6758, +1.54% climbing 1.5% and Hitachi 6501, +3.02% up 2.9%.
Chinese big caps were nearly flat in early trading. The Shanghai Composite SHCOMP, -0.22% was up slightly after starting the day 0.3% lower, after rising 0.7% Tuesday, dragged down by energy and financial names. Meanwhile, Shenzhen’s benchmark 399106, -0.06% was essentially flat after Tuesday’s outperformance. That came as Facebook confirmed it struck data partnerships with several Chinese electronics firms, including Huawei.
Australia’s S&P/ASX XJO, +0.32% was up an early 0.3%, with the materials sector jumping more than 1% as big miners BHP Billiton BHP, +1.80% and Rio Tinto RIO, +2.53% were in rally mode, while New Zealand’s benchmark NZ50GR, +0.16% was up 0.2% as it looked for a second straight record-high close. South Korea’s markets were closed for a holiday.
Singapore shares STI, -0.29% edged higher, helped by banking stocks. Hutchison Port NS8U, +1.75% continued its rebound, gaining a further 3.5%. Malaysian stocks FBMKLCI, +0.24% open slightly lower, while Taiwan’s Taiex Y9999, +0.60% jumped about 0.5%.