Asian Stocks Fall as Chinese Earnings Disappoint – Asia Market Wrap

Asian stocks fell on Wednesday as new worries about China’s faltering economy were sparked by the country’s poor corporate performance. In order to get insight into the growth momentum of equities linked to artificial intelligence, traders are carefully watching Nvidia’s performance.

Chinese stocks on the mainland dropped to their lowest level since early February, while those in Hong Kong saw a 1.5% decrease. The stock of bottled water manufacturer Nongfu Spring fell as much as 13% on the release of its least impressive half-year earnings growth in four years.

The majority of significant benchmarks in the region saw declines, including those in South Korea and Japan. Treasury yields on two years, which are more susceptible to changes in interest rates, decreased by three basis points.