Asian stock markets were weak, though above session lows, in early trading Wednesday following the latest drubbing of U.S. stocks and oil futures.
Japan’s Nikkei NIK, -0.32% was down 0.6%, moving close to its lowest point in a month as energy and electronics stocks slid. Oil explorer Inpex 1605, -3.73% was down 3.7% while Sumitomo 8053, -3.26% , which has various natural-resource investments around the world, lost 3.4%. Meanwhile, Olympus 7733, -4.00% dropped an early 4.4% and Mitsubishi Electric 6503, -2.78% was off 3.3%. Nissan shares 7201, +1.16% reversed a bit of yesterday’s slide following the arrest of CEO Carlos Ghost.
Hong Kong stocks extended losses, with the Hang Seng Index HSI, -0.13% off 0.3% after dropping more than 1% early on. While tech stocks lagged overall, Tencent 0700, +1.99% gained 1.4% and AAC 2018, +0.83% rose 1.1%. Oil company Cnooc 0883, -3.22% fell 3.5%.
In mainland China, the Shanghai Composite SHCOMP, -0.13% and the smaller-cap Shenzhen Composite 399106, +0.10% were both down slightly. Energy stocks lagged after the latest plunge in oil prices Tuesday.
Sagging energy stocks also weighed down Australia’s ASX 200 XJO, -0.38% , with Woodside Petroleum WPL, -1.93% down 2% and Santos STO, -3.51% off 3.8%. New Zealand’s benchmark NZ50GR, -0.47% was down slightly.
South Korea’s Kospi SEU, -0.57% declined 0.6%, as Samsung 005930, -1.29% dipped. Singapore’s Strai Times Index STI, +0.48% rose 0.4% while Taiwan’s Taiex Y9999, -0.27% slipped 0.3% as Apple AAPL, -4.78% suppliers Foxconn 2354, -1.29% and Largan Precision 3008, -1.21% fell.
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