Asian stocks are mixed as political risk impacts Tokyo and Sydney

Asian stocks are mixed as political risk impacts Tokyo and Sydney

On Wednesday, Asian stocks were mixed with China reporting slight revenues, while Sydney and Tokyo were affected by political risk concerns.

A recently launched North Korean ballistic missile, reportedly capable of a nuclear warhead, fell in Japan’s exclusive economic zone.  

The Nikkei 225 inched down 0.52%, while Australia's benchmark S&P/ASX 200 index tumbled 0.16%. Meanwhile, the Shanghai Composite acquired 0.32%, the Hong Kong Hang Seng index gained 0.48%.

According to Wednesday’s Caixin services PMI surge in China's services sector decreased in June. The Caixin services PMI went down to 51.6 from the 52.8 figure observed in May. As for the June composite PMI, taking into account both the manufacturing and services sectors, it sank to 51.1 compared with the 51.5 number observed the previous month.

Overnight, American shares were closed for a holiday ahead of the Wednesday publication of Fed minutes from the June gathering expected to offer greater insight into the likelihood for another rate lift this year.

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