A ship sets sail from the Port of Melbourne on September 14, 2021 with the Melbourne skyline in the background.
William West | AFP | Getty Images
After Wall Street suffered a sell-off in technology stocks on Monday, Asia-Pacific markets were mixed. Goldman Sachs downgraded Tesla’s rating on the grounds of unfavorable pricing. Tesla’s stock price fell 6%.
Shares of other tech companies including Nvidia, Alphabet and Meta Platforms also fell more than 3% each.
In Australia, S&P/ASX 200 Index Investors on Wednesday awaited inflation data for May, which opened up 0.28%, which will provide clues to the direction of the Reserve Bank of Australia’s interest rate in August.
in Japan, Nikkei 225 Index After three straight days of losses, the stock extended losses, down 0.25 percent, with the Topix index down 0.06 percent.
The Kospi and Kosdaq were also in the red, down 0.46% and 0.53%, respectively, in early trade.
Hong Kong’s Hang Seng Index was on track to snap a five-day losing streak, with futures at 18,894, compared with a close of 18,794.13.
Overnight, the three major U.S. stock indexes all fell. Among them, the Nasdaq Composite Index of technology stocks led the decline by 1.16%, the S&P 500 Index fell by 0.45%, and the Dow Jones Industrial Average fell slightly.
— CNBC’s Samantha Subin and Jesse Pound contributed to this report