In mainland China, shares were up on the day, as the Shanghai composite gained 0.25% to approximately 2,985.66 and the Shenzhen component added 0.31% to 9,753.31. The Shenzhen composite also rose 0.258% to about 1,655.61.
Hong Kong’s Hang Seng index was fractionally higher, as of its final hour of trading.
Anheuser-Busch InBev began taking orders in its second attempt to spin off its Asian business in Hong Kong on Wednesday, aiming to raise up to $6.6 billion in its Budweiser listing — what could be the world’s second largest IPO this year. Budweiser APAC is set to price the IPO Sept. 23, and the stock will debut on Sept. 30, the company said in a statement.
The brewing giant said on Tuesday it would offer 1.3 billion shares at between HK$27 and HK$30 ($3.45 to $3.83) apiece.
Elsewhere, the Nikkei 225 in Japan slipped 0.18% on the day to 21,960.71 while the Topix fell 0.49% to close at 1,606.62. Data showed Wednesday that Japan’s exports fell 8.2% year-on-year in August, less than expectations of a 10.9% decrease by economists in a Reuters poll.
South Korea’s Kospi ended its trading day 0.41% higher at 2,070.73. Over in Australia, the S&P/ASX 200 slipped 0.2% to close at 6,681.60. Australian-listed shares of adventure goods retailer Kathmandu jumped 7.6% after the company reported a more than 13% year-on-year jump in its net profit after tax.
Overall, the MSCI Asia ex-Japan index was up 0.15%.
Fed decision awaited
Fed Chair Jerome Powell will likely say that the cut in interest rates is a “mid-cycle correction” and not the “first of a series of cuts,” Hugh Johnson, chairman and chief investment officer at Hugh Johnson Advisors, told CNBC’s “Street Signs” on Wednesday.
“What’s important is that the markets are now pricing in not three cuts as they once were, that was three weeks ago. Now they’re pricing in that there’ll probably be this cut and maybe one more, and it might be December, it might be March of 2020,” he said.
|NIKKEI||Nikkei 225 Index||NIKKEI||21960.71||-40.61||-0.18|
|HSI||Hang Seng Index||HSI||26754.12||-36.12||-0.13|
|ASX 200||S&P/ASX 200||ASX 200||6681.60||-13.70||-0.20|
|CNBC 100||CNBC 100 ASIA IDX||CNBC 100||8023.94||-7.81||-0.10|
In Australia, Santos slipped 1.66% and Woodside Petroleum declined 2.52% while Beach Energy added 0.75%. Japan’s Inpex plunged 4.22% and South Korea’s S-Oil shed 0.99%. Hong Kong-listed shares of Petrochina and CNOOC also dropped 1.86% and 1.24%, respectively, as of their final hour of trading.
In the afternoon of Asian trading hours, oil prices were mixed. International benchmark Brent crude futures were up 0.28% to $64.73 per barrel, while U.S. crude futures fell slightly to $59.31 per barrel.
The moves regionally came after Saudi energy minister Prince Abdulaziz bin Salman said in a press conference Tuesday that oil production capabilities were fully restored and that oil output will be back to pre-attack levels by the end of September.
The Japanese yen traded at 108.20 against the dollar after weakening from levels below 108.0 seen earlier in the trading week. The Australian dollar changed hands at $0.6842 after touching an earlier high of $0.6869.
— Reuters, along with CNBC’s Fred Imbert and Yun Li, contributed to this report.
Correction: This article has been revised to reflect that Budweiser APAC is set to price its IPO on Sept. 23.