Asian markets were mixed in early trading Tuesday, with Chinese equities rising while Japanese stocks fell.
Japan’s Nikkei NIK, -1.32% dropped 1.3%, 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 USDJPY, +0.09% has rebounded since Friday. Sharp 6753, -5.24% fell more than 5% and Renesas 6723, -4.64% was down 4.6% amid broad selling. Financials have fallen less, with bond yields remaining up. The 10-year JGB was up a 0.9 basis point at 0.154%.
Hong Kong’s Hang Seng Index HSI, -0.02% was up 0.2% as it tried to avoid its second six-day losing streak in a month. Tencent 0700, -1.34% hit a 15-month lows in dropping more than 1%. Meanwhile, auto maker Geely 0175, -5.23% skidded 4.5% after its September sales report. But oil heavyweight CNOOC 0883, +2.36% climbed nearly 3%.
Chinese stocks were mixed after Monday’s steep 4% slides left indexes there near multiyear lows. The Shanghai Composite SHCOMP, +0.17% rose 0.2% while the smaller-cap Shenzhen Composite 399106, -0.09% declined 0.1%.
Australia’s ASX 200 XJO, -0.97% slipped 1%, dragged by financial stocks such as Commonwealth Bank of Australia CBA, -0.87% New Zealand’s benchmark NZ50GR, -0.84% fell almost as much.
Singapore’s stock benchmark STI, -0.49% hit a three-week low while Malaysia’s benchmark FBMKLCI, -0.02% slipped slightly as well. Taiwan’s Taiex Y9999, +0.10% gained a bit. South Korean markets were closed for a holiday.
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