By Dow Jones Newswire
Asian markets were mixed Tuesday, with Chinese equities rising while Japanese stock markets, back from a holiday, declined.
Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK +0.73% 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 /zigman2/quotes/210561789/realtime/sampled USDJPY -0.0300% has rebounded since Friday. Sharp /zigman2/quotes/203224600/delayed JP:6753 -0.93% fell more than 5% and Renesas /zigman2/quotes/203872935/delayed JP:6723 +7.51% 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 /zigman2/quotes/210598030/delayed HK:HSI +3.14% was down 0.1%, notching its second six-day losing streak in a month. Tencent /zigman2/quotes/204605823/delayed HK:700 +9.93% hit a 15-month lows in dropping more than 1%. Meanwhile, auto maker Geely /zigman2/quotes/200716015/delayed HK:175 +7.37% skidded 5.2% after its September sales report. But oil heavyweight CNOOC /zigman2/quotes/203421416/delayed HK:883 +0.26% climbed 2%.
Chinese stocks were mixed after Monday’s steep 4% slides left indexes there near multiyear lows. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +1.49% rose nearly 0.2% while the smaller-cap Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 +3.07% declined 0.1%.
Australia’s ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.52% slipped 1%, dragged by financial stocks such as Commonwealth Bank of Australia /zigman2/quotes/200638713/delayed AU:CBA +0.15% . New Zealand’s benchmark /zigman2/quotes/211587880/delayed NZ:NZ50GR +1.06% fell almost as much.
Singapore’s stock benchmark /zigman2/quotes/210597985/delayed SG:STI +0.96% hit a three-week low while Malaysia’s benchmark /zigman2/quotes/210598052/delayed MY:FBMKLCI -0.19% slipped slightly as well. Taiwan’s Taiex gained a bit. South Korean markets were closed for a holiday.