By Dow Jones Newswires
Chinese stock indexes traded mixed Tuesday, after Wall Street fell sharply amid a report Monday that the U.S. may impose more tariffs against Chinese goods.
However, U.S. stock futures were pointing higher in their early Tuesday dealings, after the Asian close, after President Donald Trump said the U.S. will “make a great deal with China,” in an interview with Fox .
Hong Kong stocks fell after Monday’s brief respite as talk of tariffs weighed on Chinese stocks listed in the city. The Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.31% was down 0.9%. The U.S. is preparing to extend tariffs on all remaining Chinese imports by early December if talks between Donald Trump and Xi Jinping fail, according to a Bloomberg report on Monday, citing unnamed sources. BOC Hong Kong /zigman2/quotes/200479222/delayed HK:2388 -3.10% fell nearly 7% to lead losers, following its disappointing third-quarter earnings.
China’s Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +1.39% gained 1% after the previous day’s tumble, and the Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 +2.70% reversed early losses to gain 0.9%. Liquor stocks continued to head south on weak results, with Kweichow Moutai /zigman2/quotes/208743311/delayed CN:600519 +1.47% sliding 4.5%, dragging major consumer names along. But Ping An Insurance /zigman2/quotes/202773380/delayed CN:601318 +0.27% , buoyed by its record share buyback plan, reversed an opening drop.
Japanese stocks were higher amid gains in financial shares following solid earnings results, which helped offset losses in energy stocks. The Nikkei /zigman2/quotes/210597971/delayed JP:NIK +0.40% gained 1.4%. Banks led gains after the Treasury yield went higher overnight, with Mitsubishi UFJ Financial Group /zigman2/quotes/207520099/delayed JP:8306 -0.76% up 2.2%. Equipment manufacturer Komatsu /zigman2/quotes/204002437/delayed JP:6301 +0.41% gained 6.2% following a full-year guidance upgrade. Meanwhile, oil explorer Inpex /zigman2/quotes/206689846/delayed JP:1605 -0.85% fell 3.2% after crude prices fell overnight.
South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.42% edged up 0.9%, led by gains by chip making giants Samsung /zigman2/quotes/209800866/delayed KR:005930 -0.38% and SK Hynix /zigman2/quotes/206420319/delayed KR:000660 -0.84% after Chinese chip company Fujian Jinhua Integrated Circuit Co. was slapped with export restrictions by the U.S.
Benchmarks in Australia /zigman2/quotes/210598100/delayed AU:XJO +0.59% and New Zealand /zigman2/quotes/211587880/delayed NZ:NZ50GR -2.28% were about flat, while Singapore’s Strait Times Index /zigman2/quotes/210597985/delayed SG:STI -0.63% fell and Taiwan’s Taiex rose slightly.