Asian Shares Mixed Amid China Property Concerns

(RTTNews) - Asian stocks ended mixed on Wednesday as a cryptocurrency rebound lost steam and focus shifted to key U.S. economic data and upcoming central bank decisions.

The dollar extended losses while gold held steady above $4,200 per ounce ahead of an anticipated rate cut at next week's FOMC meeting.

Traders also awaited ADP employment report and ISM Services PMI later in the day, followed by Friday's PCE Price Index, the Fed's preferred inflation measure, for additional clues on the economic and rate outlook.

Oil edged up slightly in Asian trade after high-level talks between Russia and the United States over a U.S.-proposed peace plan for the Russia-Ukraine conflict ended late on Tuesday without a breakthrough.

Chinese and Hong Kong markets underperformed after the release of weak services data and amid deepening property stress.

A private survey showed growth in China's services sector slipped to a five-month low in November. Bearish bets on China Vanke Co. climbed to a decade high in Hong Kong as the home builder seeks to delay a bond repayment by one year.

China's Shanghai Composite index dipped 0.51 percent to 3,878 while Hong Kong's Hang Seng index fell 1.28 percent to 25,760.73.

Japanese markets rose sharply as technology stocks tracked Wall Street higher. The Nikkei average ended up 1.14 percent at 49,864.68 while the broader Topix index closed 0.20 percent lower at 3,334.32. Advantest, Tokyo Electron, Renesas Electronics and SoftBank Group surged 5-7 percent.

Seoul stocks rallied after revised central bank data showed South Korea's economy expanded at the fastest pace in almost four years in the third quarter on strong exports, despite the impact of tariff issues and global uncertainties.

The Kospi average jumped 1.04 percent to 4,036.30. ending above 4,000 for the first time since Nov. 20.

Samsung C&T shares soared 9.4 percent following reports that Hong Ra-hee, honorary director of Leeum Museum of Art and widow of late Samsung Chairman Lee Kun-hee, will give all of her 1.06 percent stake in the trading firm to her eldest son and Samsung Electronics Co. Executive Chairman Jay Y. Lee.

Australian markets ended slightly higher as data showed Australian GDP rose 2.1 percent year on year in the third quarter of 2025, marking its strongest expansion since the third quarter of 2023.

Also, the country's services sector expanded at a faster pace in November, with a PMI of 52.8. The benchmark S&P/ASX 200 edged up by 0.18 percent to 8,595.20, led by utilities, real estate and tech stocks. The broader All Ordinaries index closed up 0.19 percent at 8,894.20.

Across the Tasman, New Zealand's benchmark S&P/NZX-50 index surged 0.59 percent to 13,582.54, extending gains from the previous session.

Overnight, U.S. stocks ended higher, recovering some losses from the previous session as Bitcoin steadied after Monday's 8 percent plunge, Treasury yields eased, and appetite returned to large-cap tech shares.

The tech-heavy Nasdaq Composite climbed 0.6 percent, the Dow gained 0.4 percent and the S&P 500 added 0.3 percent, a day after ending their runs of five consecutive winning sessions.