Asia report: Markets finish mixed amid sell-off in energy stocks

Markets in Asia finished in a mixed state on Wednesday, after a choppy session across the region in which energy stocks saw some significant sell-offs.

In Japan, the Nikkei 225 was up 0.37% at 22,091.18, as the yen weakened 0.15% against the dollar to last trade at JPY 112.61.

Car manufacturer Subaru slid 7.02%, after the maker of four-wheel drive vehicles took an axe to its first half operating income estimate.

Energy plays were also in the red in Tokyo, with Inpex down 3.3% and Japan Petroleum losing 1.86%.

On the mainland, the Shanghai Composite was 0.33% higher at 2,603.30, and the smaller, technology-heavy Shenzhen Composite fell 0.23% to 1,297.22.

South Korea’s Kospi finished down 0.4% at 2,097.58, while the Hang Seng Index in Hong Kong slipped 0.38% to 25,249.78.

The blue-chip technology stocks were under pressure in Seoul, with Samsung Electronics down 1.16% and chipmaker SK Hynix off 3.47%.

Korean steelmaker Posco went against the direction of the bourse, however, rising 1.92% after it reported its highest quarterly profit in seven years, thanks to rising steel prices.

Oil prices were mixed as the region went to bed, with Brent crude last down 0.21% at $76.28, while West Texas Intermediate rose 0.45% to $66.73.

In Australia, the S&P/ASX 200 was 0.24% below the waterline at end-of-play, despite the hefty financials subindex managing gains of 0.14%.

It was the energy sector which dragged the benchmark under, falling 2.07% amid the sell-off in oil plays.

Of the major energy stocks in Sydney, Oil Search was down 1.97%, Santos lost 2.45% and Woodside Petroleum was 1.29% lower.

Across the Tasman Sea, New Zealand’s S&P/NZX 50 finished 0.4% softer at 8,642.24, with construction conglomerate Fletcher Building losing 2.9% to settle at a six-month low.

The down under dollars were a mixed picture, with the Aussie last 0.1% stronger on the greenback at AUD 1.4099, while the Kiwi retreated 0.14% to NZD 1.5281.