Stock indices of the largest countries of the Asia-Pacific region in the course of trading on Wednesday demonstrate negative dynamics.

In general, the markets are in a wait-and-see mood before the speech of U.S. Federal Reserve Chairman Jerome Powell in Congress with the traditional semi-annual report on monetary policy, analysts say.

Chinese index Shanghai Composite by 8:28 Moscow time decreased by 0.2%, Hong Kong Hang Seng – by 1.1%.

Analysts believe that the main reason for the fall of the Hong Kong market is the decline in stock prices of technology companies, as investors are fixing profits after growth in the beginning of the current week, writes The Wall Street Journal.

The most significantly depreciated securities of Alibaba (NYSE:BABA) Health Information Technology Ltd. – by 13.5%, JD.com Inc. (NASDAQ:JD) by 4.8%, Sunny Optical Technology Group Co. – by 4.7% and Anta Sports Products Ltd. – (NASDAQ:JD) down 4.5%.

In addition, oil producers PetroChina (-3.1%) and CNOOC (-2.8%) are down.

At the same time, the share price of Li Auto (NASDAQ:LI) Inc. jumped 7.2%. The company unveiled its second electric vehicle model, which is called the L9. It is an SUV that is larger than the first Li ONE model.

Japan’s Nikkei 225 index was down 0.1% by 8:23 Moscow time by 8:23 Moscow time.

Among the leaders of quotations decrease are shares of Mitsubishi Corp. (-5.5%), Sojitz Corp. (-5.5%) and Inpex (-3.9%).

South Korea’s Kospi index was down 2.2% by 8:23 Moscow time by 8:23 Moscow time.

The market value of Samsung Electronics Co.one of the world’s largest chip and consumer electronics makers, is down 0.5%.

The stock price of cosmetics maker Amorepacific Corp. collapses nearly 10% on investor concern that the lockdowns in China will negatively affect the company’s second-quarter earnings.

Australia’s S&P/ASX 200 is losing less than 0.1%.

Stock prices of banks Westpac and Australia & New Zealand Banking Group (ASX:ANZ) are down 0.1% and 0.8%, respectively.

Meanwhile, the market value of the world’s largest mining companies BHP and Rio Tinto (LON:RIO) increased by 0.4% and 0.9%, respectively.