Stocks sink in Hong Kong and Shanghai, while Japan’s Nikkei edges higher
Asian markets were mixed in early trading Tuesday, as stocks in Hong Kong and mainland China sank after posting early-session gains.
Hong Kong’s Hang Seng index
slid 1.3%, the Shanghai Composite
fell 1.2% and the smaller-cap Shenzhen Composite
declined 1.3%. Japan’s Nikkei 225
edged 0.2% higher. South Korea’s Kospi
fell 0.4% and Australia’s S&P/ASX 200
was little changed. Stocks fell in Malaysia
but gained in Singapore
Chinese internet-search giant Baidu made a disappointing debut in its $3 billion Hong Kong offering, with shares rising only slightly from its opening price. Baidu’s American Depository Receipts
had jumped more than 3% on Monday.
U.S. stock benchmarks closed higher Monday. The Dow Jones Industrial Average
rose 103.23 points, or 0.3%, to close at 32,731.20, snapping a two-session losing streak, while the S&P 500
added 27.49 points, or 0.7%, to close at 3,940.59, also ending a two-session slide. The Nasdaq Composite Index
advanced 162.31 points to finish at 13,377.54, a gain of 1.2%.