Asian markets were mixed in early trading Tuesday, with Chinese equities rising while Japanese stocks fell.
dropped about 1%, though analysts said that was mostly a catch-up reaction to Monday’s widespread regional declines that took place while Japanese markets were closed for a holiday. Electronics were among the biggest decliners as concerns over U.S.-China trade tensions continue to grow and as the yen
has rebounded since Friday. Sharp
were down nearly 4% amid broad selling, with just two of the 33 Topix sectors — construction and real estate — logging gains shortly after the open. Financials have fallen less, with bond yields remaining up. The 10-year JGB was up a half-basis point at 0.15%.
Hong Kong’s Hang Seng Index
was up 0.5% as it tried to avoid its second six-day losing streak in a month. Tencent
hit fresh 15-month lows in dropping more than 0.5% in early trading, but recovered to positive territory. Meanwhile, automaker Geely
skidded 3% after its September sales report. But oil heavyweight CNOOC
climbed nearly 3%.
Chinese stocks were higher in early trading after yesterday’s wide 4% slides left indexes there near multiyear lows. The Shanghai Composite
rose an early 0.3% while the smaller-cap Shenzhen Composite
climbed 0.4%. A bounce-back after Monday’s post-holiday slide wasn’t unexpected, but the key question is whether it’s sustainable.
Singapore’s stock benchmark
hit a three-week low while Malaysia’s benchmark
slipped slightly as well. Taiwan’s Taiex
gained a bit. South Korean markets were closed for a holiday.
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