SYDNEY, Australia - Shares in Hong Kong plunged more than 600 points in afternoon trading on Wednesday, the first Chinese market to re-open since the start of the Chinese Lunar New Year holidays.
The Shanghai markets remain closed, and will not re-open until Monday.
Elsewhere, in New Zealand the S&P/NZX 50 fell 8.10 points or 0.07% to 11,676.51.
The Nikkei 225 in Japan was ahead around 150 points in late afternoon trading.
The Australian All Ordinaries gained 44.30 points or 0.62% to 7,142.70.
On forex markets, the U.S. dollar continued to creep higher. Around the Sydney close on Wednesday, the euro was last quoted at 1.1013. The British pound fell to 1.3019. The Japanese yen inched down to 109.18.
The Swiss franc fell to 0.9743. The Canadian dollar was notionally weaker at 1.3163, while the New Zealand dollar dipped to 0.6533.
The Australian dollar went against the trend, rising a fraction to 0.6770.
Overnight on Wall Street, the Dow Jones Industrial Average was ahead 186.23 points, or 0.65%, at 28,722.03.
The S&P 500 added 32.59 points, or 1.00%, to 3,276.22.
The Nasdaq Composite climbed 130.37 points, or 1.43%, to 9,269.68.