Techs push Asia lower
(CNN) -- Asian stocks closed in the red Wednesday after gaining over the past two days, with hefty falls for key tech issues and exporters.
Samsung Electronics fell 3 percent and Hyundai Motor lost almost 5 percent.
Investors in Tokyo weighed new data showing Japan's economy grew at an annualized rate of 6.1 percent in the first three months of the year.
The Nikkei 225 average, which on Tuesday closed at a five-week high, finished down 0.63 percent to 11,449.74.
On Monday, the Nikkei posted its biggest one-day rise since December with a 2.8 percent gain.
The broader Topix index lost 0.44 percent to close at 1152.77.
The market in South Korea had the region's heaviest fall, with the Kospi down 1.83 percent.
Australia finished down 0.5 percent and New Zealand closed 0.37 percent lower.
Taiwan was off 0.35 percent and Singapore and Hong Kong are virtually flat.
Share markets around the world have rallied so far this week on strong U.S. jobs growth and expectations of lower oil prices and better corporate earnings.
The other driver of sentiment is the Group of Eight (G8) meeting of advanced nations, which opened in the United States Tuesday. (Full story)
In Tokyo, major bank Mizuho dropped 2.1 percent to 459,000 yen and UFJ similarly fell 2.1 percent to 548,000 yen.
Consumer electronics leader Sony was down 0.7 percent to 4040 yen, tech bellwether Tokyo Electron was off 2.5 percent to 6160 yen and market heavyweight NTT DoCoMo gave up early gains to finish unchanged at 204,000 yen.
In the auto sector, Honda was off 1.4 percent to 4940 yen. Toyota fell slightly to 4120 yen and Nissan was off 1 percent to 1140 yen.
Hyundai Motor eases
 |  South Korean exporter Hyundai Motor gave up some of this week's gains. |
In Seoul, the Kospi closed down 1.83 percent to 794.53. Leading exporter Hyundai Motor gave up some of this week's big gains, losing 4.6 percent to 44,000 won.
The market's biggest stock, Samsung Electronics, was off 3 percent to 483,000 won.
Taiwan's Taiex slipped 0.35 percent to 5965.70. Market heavyweight TSMC lost 2.65 percent to T$55.00.
In Australia, the S&P/ASX200 ended 0.5 percent lower to 3466.2 after going near record highs on Tuesday. Resources leaders BHP Billiton and Rio Tinto were both down more than 1 percent.
Media group PBL closed half a percent higher at A$12.95 after a management reshuffle. (Full story)
Beer and wine group Foster's jumped 2.6 percent higher to A$4.71 after announcing more writedowns on its wine business Tuesday. (Full story)
In Singapore, the Straits Times index is 0.1 percent lower to 1818.14. Singapore Airlines is down 1 percent to S$10.40.
In Hong Kong, the Hang Seng index is down 0.07 percent to 12,335.83. HSBC is just in the red, while Hutchison Whampoa and China Mobile are steady.
The moves in Asia follow a positive close for Wall Street Tuesday, with the Dow putting on 0.4 percent and the Nasdaq closing 0.14 percent higher at 2023.53. (Full story)
Last Thursday, OPEC agreed to raise crude output by two million barrels per day from July 1 and a further 500,000 bpd starting in August. (Full story)
