By Marketwatch and Associated Press
Asian markets were mixed in early trading Tuesday, following a lackluster session on Wall Street.
Investors continued to mull recent economic data while they away upcoming meetings by the U.S. Federal Reserve and the European Central Bank, both of which are expected to announce monetary stimulus moves.
U.S. Treasury Secretary Steve Mnuchin told Fox Business on Monday that he views the renewed trade talks with China in October as a sign of “good faith,” and claimed the tariff war has had no effect on the U.S. economy .
On Tuesday, data from China showed that consumer inflation rose more than expected in August, although the producer-price index unexpectedly fell 0.8% in August from a year ago.
Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK +0.03% rose 0.2% while Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.74% was about flat. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP -0.21% retreated 0.4% while the Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 +0.0056% slipped 0.5%. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.76% gained 0.3%, while benchmark indexes in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 -0.09% , Singapore /zigman2/quotes/210597985/delayed SG:STI +0.41% and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX +0.15% were mixed. Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.38% fell 0.5%.
Among individual stocks, Nissan Motor /zigman2/quotes/208298710/delayed JP:7201 +2.86% surged in Tokyo trading after its CEO announced he will step down next week. SoftBank /zigman2/quotes/207303954/delayed JP:9984 +1.74% rose after a report that it is urging WeWork, which it had invested about $10 billion into, to shelve its IPO. Toyota /zigman2/quotes/203803129/delayed JP:7203 +1.20% also rose, while Sony /zigman2/quotes/201361720/delayed JP:6758 +1.53% fell. In Hong Kong, CNOOC /zigman2/quotes/203421416/delayed HK:883 0.00% and China Life Insurance /zigman2/quotes/202359856/delayed HK:2628 -0.67% gained while Sunny Optical /zigman2/quotes/206687505/delayed HK:2382 -0.61% and Country Garden /zigman2/quotes/201681083/delayed HK:2007 -0.97% declined. Chip maker SK Hynix /zigman2/quotes/206420319/delayed KR:000660 +2.29% fell in South Korea, while Taiwan Semiconductor /zigman2/quotes/207385621/delayed TW:2330 -0.40% slipped in Taiwan. Beach Energy /zigman2/quotes/200513631/delayed AU:BPT +1.92% and Oil Search /zigman2/quotes/204702973/delayed AU:OSH +1.08% surged in Australia.