Asia report: Markets mixed amid global tech rout

Markets in Asia finished in a mixed state on Wednesday, as sentiment continued to slump after another session of losses for Wall Street’s technology plays.

In Japan, the Nikkei 225 was down 0.35% at 21,507.54, as the yen weakened 0.12% against the dollar to last trade at JPY 112.91.

The broader Topix index slipped 0.6% to 1,615.89 in Tokyo.

On the mainland, the Shanghai Composite was 0.21% higher at 2,651.51, and the smaller, technology-heavy Shenzhen Composite advanced 0.54% to 1,386.43.

Traders in China were less keen on the latest trade developments, with Washington calling the country’s administration “unfair” and “unreasonable” overnight.

The strong assertions came in an update from the US Trade Representative on their ongoing investigation into the intellectual property and technology transfer practices of the People’s Republic.

South Korea’s Kospi was off 0.29% at 2,076.55, while the Hang Seng Index in Hong Kong managed gains of 0.51% to close at 25,971.47.

Oil prices were higher, with Brent crude last up 1.11% at $63.23 per barrel, and West Texas Intermediate adding 1.58% to $54.29.

In Australia, the S&P/ASX 200 was off 0.51% at 5,642.80, even as the hefty financials subindex managed to reverse earlier losses to end the day 0.2% above the waterline.

Coles, one of the country’s two major grocery retailers, debuted on the Sydney bourse to beat expectations, having been spun out of retail conglomerate Wesfarmers.

Across the Tasman Sea, New Zealand’s S&P/NZX 50 was down 0.5% at 8,672.40, as ailing construction group Fletcher Building fell 4.7% to reach its lowest close in 14 years.

Both of the down under dollars were stronger on the greenback, with the Aussie last ahead 0.63% at AUD 1.3775, and the Kiwi advancing 0.7% to NZD 1.4622.