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Asia-Pacific markets traded mixed on Wednesday, following declines on Wall Street after a sell-off in technology stocks picked up pace.
Japanese markets were in focus for investors. The Bank of Japan held interest rates steady at 0.5%, in line with expectations, as the central bank weighed the potential impact of U.S. President Donald Trump’s tariffs.
Japan’s benchmark Nikkei 225 was last seen up 0.69%, while the broader Topix index increased 1.05%.
Over in South Korea, the Kospi index advanced 0.87%, while the small-cap Kosdaq fell 0.53% in choppy trade.
Mainland China’s CSI 300 lost 0.41%, while Hong Kong’s Hang Seng Index was flat.
Australia’s S&P/ASX 200 fell 0.18%.
Overnight in the U.S., stocks were back in the red after two straight winning sessions.
The Dow Jones Industrial Average lost 260.32 points, or 0.62%, closing at 41,581.31. The S&P 500 shed 1.07%, ending at 5,614.66. The broad market index concluded the day 8.6% off its closing high reached in February, bringing it near correction territory. The Nasdaq Composite dropped 1.71% and settled at 17,504.12.
Tesla, one of the stocks hardest hit during the market’s recent correction, was down yet again on Tuesday. The stock fell more than 5% after RBC Capital Markets lowered its price target on the electric vehicle name, given stiff competition in the EV space.
Elsewhere, shares of Palantir and Nvidia dropped nearly 4% and more than 3%, respectively. The Technology Select Sector SPDR Fund (XLK) was also down more than 1%.
— CNBC’s Sean Conlon and Alex Harring contributed to this report.
