Asian Shares Mixed As Political Risk Hits Sydney, Tokyo
Asian shares were mixed, with China posting slight gains on Wednesday, but Tokyo and Sydney hit by political risk concerns.
North Korea claimed on Wednesday the missile it launched on Tuesday was an intercontinental ballistic missile capable of carrying a heavy nuclear warhead, Reuters said. The missile launched on Tuesday landed in Japan's exclusive economic zone (EEZ).
The Nikkei 225 fell 0.52%. Australia's benchmark S&P/ASX 200 index fell 0.16%. The Shanghai Composite rose 0.32%, while the Hong Kong Hang Seng index was up 0.48%.
The Caixin services PMI showed on Wednesday that growth in China's services sector slowed in June. The Caixin services PMI fell to 51.6 from the 52.8 figure seen in May. The June composite PMI, which takes into account both the services and manufacturing sectors, fell to 51.1 compared with the 51.5 number seen last month.
Overnight, U.S. stocks were closed for a holiday ahead of Wednesday's release of Fed minutes from the June meeting expected to provide greater insight into the chances of another hike this year.
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