Investing.com - Shares across Asia-Pacific were trading in a mixed fashion on Wednesday, following a slump in US tech stocks overnight as Nvidia reported better-than-expected quarterly earnings results overnight.
BY 11:00 am AEDT (12:00 am GMT) S&P/ASX 200 were up by 0.2%, while the KOSPI 200 and Nikkei 225 fell 0.7% and 0.3%, respectively.
In the United States, major benchmark averages mostly retreated as technology shares underperformed. The Dow Jones Industrial Average dropped 62 points to 35,088, the S&P 500 fell by 0.2% to 4,538, and the Nasdaq Composite Index slipped 0.6% to 14,199.
Several retailers reported underwhelming earnings On Tuesday. Kohl's shares fell 8.6% after sales fell short of estimates, while Best Buy shares dipped 0.7% following a cut in its full-year sales outlook. Shares of Lowe's also lost 3.1% after the company downgraded its outlook for the year.
In commodity markets, Brent crude oil saw a slight increase of 0.2% to US$82.52 a barrel, while gold rose by 1.0% to US$1,998.57.
In the bond market, the yield on Australian 2-year government bonds dropped to 4.15%, while the 10-year yield fell to 4.44%. US Treasury notes also declined, with the 2-year yield standing at 4.89% and the 10-year yield at 4.41%.
The Australian dollar dropped slightly to 65.53 US cents, and the US Dollar Index, fell to 98.13.
In China, despite hopes for more support for the country's troubled property sector, shares mostly closed lower. Hardware and semiconductor stocks weighed on the market. Real estate stocks saw gains following news of Chinese regulators drafting a list of 50 companies eligible for funding.
Hong Kong shares erased early gains and closed lower, dragged down by the tech sector. Property stocks rose following news that Chinese financial regulators are drafting a list of 50 developers eligible for additional financing support.
Japan's Nikkei Stock Average edged 0.1% lower due to the strengthening yen, which hurt Japanese exporters' overseas earnings. However, losses were limited due to gains in semiconductor companies.
Indian shares ended higher, led by steel companies and consumer stocks, possibly boosted by the increasing probability that the U.S. Federal Reserve is done with its rate hike regime.
European stocks mostly fell after mixed trading in Asia and ahead of an expected lower U.S. open. The Stoxx Europe 600, FTSE 100, and CAC 40 all retreated, while the DAX advanced slightly. Brent crude lost 0.3% to $82.09 a barrel, dragging oil shares lower. The FTSE 100 closed 0.19% lower on Tuesday at 7,481.99