SINGAPORE — Shares in Asia-Pacific were largely lower on Wednesday, as investors reacted to the release of Chinese economic data.
Hong Kong's Hang Seng index dropped about 1.6%, as of its final hour of trading, with the index looking set to fall more than 1% for the third straight session.
Casino stocks listed in the city plunged amid fears over tighter regulations as Macao kicked off a public gaming consultation. Shares of Wynn Macau and Sands China both plummeted more than 27% each, while Galaxy Entertainment Group dropped around 18.39%.
Mainland Chinese stocks closed lower, with the Shanghai composite dipping 0.17% to 3,656.22 while the Shenzhen component shed 0.614% to 14,536.31.
Data released Wednesday showed China's retail sales growing at a much lower pace than expected in August. The retail sales print for the month grew 2.5%, against a 7% growth forecast by analysts polled by Reuters.
Industrial production growth also came in below expectations, rising 5.3% in August against predictions of 5.8% growth.
The Nikkei 225 in Japan declined 0.52% on the day to 30,511.71 while the Topix index slipped 1.06% to 2,096.39. South Korea's Kospi edged 0.15% higher to close at 3,153.40.
In Australia, the S&P/ASX 200 fell 0.27% to close at 7,417.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.69%.
Overnight on Wall Street, the Dow Jones Industrial Average dropped 292.06 points to 34,577.57 while the S&P 500 declined 0.57% to 4,443.05. The Nasdaq Composite shed 0.45% to 15,037.76. The losses stateside came despite an inflation reading for August that was weaker than expected.
Currencies and oil
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 92.591 following its recent decline from levels above 92.7.
The Japanese yen traded at 109.52 per dollar, having strengthened yesterday from around 110.1 against the greenback. The Australian dollar changed hands at $0.7323, still struggling to recover after last week's decline from above $0.74.
Oil prices were higher in the afternoon of Asia trading hours, with international benchmark Brent crude futures up 0.96% to $74.31 per barrel. U.S. crude futures advanced 0.98% to $71.15 per barrel.
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September 15, 2021 at 06:40AM
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Asia stocks fall: China's retail sales data; Hong Kong casino stocks - CNBC
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