Stocks in Asia rebound, but Nikkei 225 falls hundreds of points

SYDNEY, NSW, Australia — Stocks in Asia rebounded on Wednesday, although the Japanese market lagged with the coveted Nikkei 225 losing hundreds of points.

In Australia, the All Ordinaries gained 51.70 points or 0.70 percent to 7,473.90.

The Kospi Composite in Seoul advanced 11.55 points or 0.43 percent to 2,718.34.

New Zealand’s S&P/NZ50 added 19.79 points or 0.16 percent, to close Wednesday at 12,134.43.

Going against the trend, the Nikkei 225 in Tokyo shed 461.26 points or 1.71 percent to 26,449.61.

In Hong Kong, the Hang Seng was up 138 points in late trading, while China’s Shanghai Composite was ahead 26 points.

The U.S. dollar remained strong against the euro but was failing in the Asian session to gain ground. The euro was quoted unchanged at 1.1327 around the Sydney close Wednesday. The British pound traded in a tight range around 1.3595. The Japanese yen was little changed at 115.03, as was the Swiss franc at 0.9205.

The Canadian dollar strengthened to 1.2747. The Australian dollar rose to 0.7234, while the New Zealand dollar rallied to 0.6769.

Overnight on Wall Street, the Dow Jones industrials tumbled 482.57 points or 1.42 percent to 33,596.61.

The tech-laden Nasdaq Composite shed 166.55 points or 1.23 percent to 13,381.52.

The Standard and Poor’s 500 gave up 44.11 points or 1.01 percent to 4,304.76.