Asian stocks down after earlier surge on Middle East ceasefire

South Korea's Kospi surged several percent on Wednesday but is now down 1.3 percent.

In Japan, the Nikkei 225 is down 0.6 percent and the broader Topix is down 0.8 percent.

Shanghai is also falling, down 0.6 percent, while Shenzhen is unchanged.

The Hong Kong-based Hang Seng is down 0.3 percent.