Mostly Lower In Asia

Most Asia-Pac equity indices are lower at typing on a limited, negative showing from Wall St. (major cash indices closed flat to 0.4% softer on Tuesday), with domestic developments (particularly earnings) largely driving matters for regional stocks.

• The CSI300 sits 1.0% worse off, a little above fresh two-week lows at writing. Tech and semiconductor equities have struggled, with the ChiNext (-2.9%) underperforming, dragged lower by losses in large-cap CATL Ltd (-4.3%) after the latter reported weaker battery margins.
• The Hang Seng deals 1.4% softer at typing on losses in ~90% of its constituents, taking the index to fresh 15-week lows. The property (-2.1%) sub-index leads losses as Chinese developer Logan has resumed trading (suspended since May 12), with the latter falling by as much as 58% earlier after missing revenue expectations.
• China-based tech (HSTECH: -2.6%) struggled as well, with sentiment worsened by a sharp selloff in EV stocks after XPeng’s (-13.3%) dismal earnings beat on Tuesday.
• The ASX200 has bucked the broader trend of losses, dealing 0.5% at writing on strength in the energy (+2.0%) and materials (+0.9%) sub-gauges, countering underperformance in consumer staples mainly on losses in Coles Group (-3.3%) despite beating profit expectations. Tech outperformed as well (S&P/ASX All Technology Index: +1.1%), led higher after strong earnings from WiseTech Global (+11.0%).
• E-minis are 0.3-0.4% softer apiece, with Dow contracts operating through Tuesday's low, effectively ceding all of its gains for August at current levels.