Investing.com – Asian stocks were mixed on Wednesday, as commodity-linked shares led markets lower after China unexpectedly raised its benchmark interest rate, raising the prospect of a slowdown in global growth.
During last Asian trade, Hong Kong's Hang Seng Index was down 0.66%, South Korea's Kospi Composite rose 0.71%, while Japan’s Nikkei 225 Index tumbled 1.65%.
On Tuesday, China's central bank said it had raised its benchmark deposit and lending rates by 0.25% for the first time since December 2007. The move was likely to slow China's rapid economic growth and dampen demand for commodities.
Shares in Inpex Corporation, Japan’s biggest oil explorer, plunged 3.36%, while shares in Sumitomo Metal Mining dropped 3.61% and Mitsui Mining stocks tumbled 1.17%.
Elsewhere within the sector, shares in Mitsubishi Corporation, Japan’s biggest commodities trader, plummeted 2.44%, while rivals Mitsui & Co. saw its shares fall 2.71%.
Meanwhile, the yen’s ongoing weakness against the U.S. dollar continued to weigh heavily on Japan's exporters.
Shares in digital-camera makers Canon tumbled 1.96%, Panasonic, the world’s biggest maker of plasma televisions, dropped 1.17%, while Toyota Motors, the world’s largest automaker, saw its shares fall 1.30%.
Meanwhile, in Europe, equity markets were down after the open. The EURO STOXX 50 shed 0.31%, France’s CAC 40 dropped 0.27%, the FTSE 100 decreased 0.19% and Germany's DAX fell 0.22%.
Later in the day, the U.S. Federal Reserve was to release its Beige Book, a summary of the data the bank examines before setting the benchmark interest rate.
During last Asian trade, Hong Kong's Hang Seng Index was down 0.66%, South Korea's Kospi Composite rose 0.71%, while Japan’s Nikkei 225 Index tumbled 1.65%.
On Tuesday, China's central bank said it had raised its benchmark deposit and lending rates by 0.25% for the first time since December 2007. The move was likely to slow China's rapid economic growth and dampen demand for commodities.
Shares in Inpex Corporation, Japan’s biggest oil explorer, plunged 3.36%, while shares in Sumitomo Metal Mining dropped 3.61% and Mitsui Mining stocks tumbled 1.17%.
Elsewhere within the sector, shares in Mitsubishi Corporation, Japan’s biggest commodities trader, plummeted 2.44%, while rivals Mitsui & Co. saw its shares fall 2.71%.
Meanwhile, the yen’s ongoing weakness against the U.S. dollar continued to weigh heavily on Japan's exporters.
Shares in digital-camera makers Canon tumbled 1.96%, Panasonic, the world’s biggest maker of plasma televisions, dropped 1.17%, while Toyota Motors, the world’s largest automaker, saw its shares fall 1.30%.
Meanwhile, in Europe, equity markets were down after the open. The EURO STOXX 50 shed 0.31%, France’s CAC 40 dropped 0.27%, the FTSE 100 decreased 0.19% and Germany's DAX fell 0.22%.
Later in the day, the U.S. Federal Reserve was to release its Beige Book, a summary of the data the bank examines before setting the benchmark interest rate.