SINGAPORE — Shares in Asia-Pacific traded mixed on Wednesday as investors waited for the release of Chinese economic data.
In Japan, the Nikkei 225 shed 0.63% in morning trade while the Topix index declined 0.43%. South Korea's Kospi, on the other hand, rose 0.56%.
Shares in Australia were higher as the S&P/ASX 200 gained 1.73%.
MSCI's broadest index of Asia-Pacific shares traded 0.51% higher.
Stocks on the move
Shares of Mitsubishi UFJ Financial Group fell more than 2% in Wednesday morning trade after the firm's brokerage arm on Tuesday flagged potential losses of around $300 million due to an event at its European subsidiary in relation to an unnamed U.S. client.
That development came in the wake of the recent meltdown at Archegos Capital Management. Credit Suisse and Nomura, two prime brokers of Archegos, announced Monday that they faced losses that could be "highly significant" to the banks.
Shares of Nomura in Japan continued to see a third straight day of losses on Wednesday and fell more than 1%. Nomura's stock plunged more than 16% on Monday.
Elsewhere, shares of South Korean automaker Hyundai Motor rose about 0.9% in morning trade. It came despite the firm announcing it will temporarily suspend production at its No. 1 plant in Ulsan, South Korea, from April 7 to 14.
In a statement, Hyundai said the suspension was due to "supply conditions" of semiconductor parts for the front view camera system of the Kona sport utility vehicle as well as power electric modules for the Ioniq 5.
China's official manufacturing PMI
In economic developments, official data showed China's factory activity expanded at a faster-than-expected pace in March.
The official manufacturing Purchasing Managers' Index (PMI) came in at 51.9, according to the National Bureau of Statistics — compared to February's reading of 50.6. Analysts had expected a reading of 51 for March, according to Reuters.
PMI readings above 50 signify expansion while those below that level represent contraction. PMI readings are sequential and represent month-on-month expansion or contraction.
Overnight stateside, the Dow Jones Industrial Average fell 104.41 points to close at 33,066.96 while the S&P 500 finished its trading day about 0.32% lower at 3,958.55. The Nasdaq Composite closed 0.11% lower at 13,045.39.
The losses on Wall Street came as the yield on the benchmark 10-year Treasury note touched a 14-month high on Tuesday. It later eased from those levels and last sat at 1.7314%.
Currencies and oil
The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 93.271 after rising from levels below 93 earlier in the week.
The Japanese yen traded at 110.56 per dollar as it remained weaker than levels below 109.2 against the greenback seen last week. The Australian dollar changed hands at $0.7614, having slipped from around $0.765 yesterday.
Oil prices were higher in the morning of Asia trading hours, with international benchmark Brent crude futures up about 0.5% to $64.47 per barrel. U.S. crude futures gained 0.3% to $60.73 per barrel.
— CNBC's Hugh Son and Chery Kang contributed to this report.
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March 31, 2021 at 06:33AM
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Asia-Pacific markets mixed; China says its factory activity expanded in March - CNBC
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