Asian Markets Give Back Gains

Asia-Pacific markets traded mixed Wednesday, after Wall Street gains on investor optimism after U.S. President Donald Trump extended the deadline for a 50% tariff on European Union imports until July 9.In Japan, the Nikkei 225 saw its win streak snapped, with a loss of 1.7 points to 37,722.40. In Hong Kong, the Hang Seng dropped 123.68 points, or 0.5%, to 23,258.31.Australia’s inflation rate rose 2.4% in April, unchanged since February but higher than the median estimate of 2.3% polled by Reuters.Over in New Zealand, its central bank expectedly cut the benchmark rate to 3.25%. The New Zealand dollar strengthened modestly following the announcement to trade at 0.5947 against the greenback.In other markets In China, the CSI 300 lost 3.16 points, or 0.1%, to 3,836.24. In Korea, the Kospi index regained 32.93 points, or 1.3%, to 2,670.15In Taiwan, the Taiex Index recovered 21.18 points, or 0.1%, to 21,357.72.In Singapore, the Straits Times index gained 15.83 points, or 0.4%, to 3,911.92In New Zealand, the NZX 50 dumped 220.07 points, or 1.8%, to 12,362.26.In Australia, the ASX 200 backtracked 10.62 points, or 0.1%, to 8,396.94.