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Asia Markets

Sept. 9, 2019, 11:02 p.m. EDT

Asian markets mixed as investors digest economic data ahead of central bank meetings

Nikkei edges up, Hang Seng struggles for direction

By Marketwatch and Associated Press


Reuters
Chinese and U.S. flags flutter near The Bund, in Shanghai, China.

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 (NIKKEI:JP:NIK)   rose 0.2% while Hong Kong’s Hang Seng Index (HONG:HK:HSI)   was about flat. The Shanghai Composite (SHG:CN:SHCOMP)   retreated 0.4% while the Shenzhen Composite (SHENHZEN:CN:399106)   slipped 0.5%. South Korea’s Kospi (KOREA:KR:180721)  gained 0.3%, while benchmark indexes in Taiwan (TAIWAN:TW:Y9999)  , Singapore (SES:SG:STI)   and Indonesia (INDONESIA:ID:JAKIDX)   were mixed. Australia’s S&P/ASX 200 (S&P:AU:XJO)   fell 0.5%.

Among individual stocks, Nissan Motor (TKS:JP:7201)   surged in Tokyo trading after its CEO announced he will step down next week. SoftBank (TKS:JP:9984)   rose after a report that it is urging WeWork, which it had invested about $10 billion into, to shelve its IPO. Toyota (TKS:JP:7203)   also rose, while Sony (TKS:JP:6758)   fell. In Hong Kong, CNOOC (HKG:HK:883)   and China Life Insurance (HKG:HK:2628)   gained while Sunny Optical (HKG:HK:2382)   and Country Garden (HKG:HK:2007)   declined. Chip maker SK Hynix (KRX:KR:000660)   fell in South Korea, while Taiwan Semiconductor (TAI:TW:2330)   slipped in Taiwan. Beach Energy (ASX:AU:BPT)   and Oil Search   surged in Australia.

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