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Australia’s inflation, China’s industrial income, oil

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SINGAPORE – Asia-Pacific stocks were lower on Wednesday, with Chinese technology stocks taking large losses in Hong Kong.

Tencent’s Hong Kong-listed shares fell 2.99% on Wednesday, while Alibaba fell 2.95% and Meituan fell 5.09%. The Hang Seng Tech Index lost 3.19% to 6,441.62.

The broader Hang Seng index in Hong Kong took losses among the region’s major markets, down 1.57% to close at 25,628.74.

Mainland stocks fell during the day, with the Shanghai Composite dropping 0.98% to 3,562.31 and the Shenzhen share dropping 1.095% to 14,393.51.

Industrial profits in China rose 16.3% year-over-year in September, according to data released by China’s National Bureau of Statistics on Thursday.

In Japan, the Nikkei 225 closed slightly lower at 29,098.24 while the Topix index lost 0.23% to end the day at 2,013.81. South Korea’s Kospi also lost 0.77% to close at 3,025.49.

Australian stocks closed higher as the S & P / ASX 200 rose slightly to 7,448.70. Australia’s consumer price index rose 0.8% in the September quarter of 2021, data from the country’s statistical office showed on Wednesday. Quarterly consumer inflation was in line with expectations from a Reuters poll.

The Australian dollar rose to $ 0.7506 after the data was released, from an earlier low of $ 0.7495.

MSCI’s broadest index for Asia Pacific stocks outside of Japan fell 0.73%.

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Overnight in the States, the Dow Jones Industrial Average gained 15.73 points to a new record high of 35,756.88, while the S&P 500 climbed 0.18% to 4,574.79. The Nasdaq Composite rose slightly to around 15,235.72.

Oil prices drop by more than 1%

Oil prices were lower in the afternoon of Asian trading hours, with international benchmark Brent crude futures falling 1.44% to $ 85.16 a barrel. US crude oil futures declined 1.74% to $ 83.18 a barrel.

The US dollar index, which tracks the greenback versus a basket of its competitors, was 93.865 after rising to a level around 94 recently.

The Japanese yen was trading at 113.72 per dollar, up 114.2 versus the greenback previously.

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