Asian stocks mixed on Wednesday after Wall Street surged overnight

Asia-Pacific Stocks in were mixed on Wednesday after major indexes on Wall Street surged to record highs overnight.

Hong Kong’s Hang Seng index closed 0.13% lower at 26,532.58. Xiaomi shares in Hong Kong, which were suspended earlier on Wednesday, plummeted 7.07% on the day. The Chinese smartphone maker announced Wednesday plans to raise nearly $4 billion by selling new shares and bonds.

Meanwhile, shares of Evergrande Property Services — a unit of Chinese property developer China Evergrande Group — dipped about 0.2% from their issue price as they made their debut on Wednesday. China Evergrande Group shares in Hong Kong dropped 2.53%.

Mainland Chinese stocks were mixed on the day: The Shanghai composite declined fractionally to about 3,449.38 while the Shenzhen component gained 0.224% to approximately 13,961.58.

Elsewhere, South Korea’s Kospi gained 1.58% to close at 2,675.90. In Japan, the Nikkei 225 finished its trading day slightly higher at 26,800.98 while the Topix index advanced 0.32% to close at 1,773.97.

The S&P/ASX 200 in Australia closed little changed at 6,590.20.

MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.24%.