Asia-Pacific stock markets cooled in early trading Tuesday as the previous day’s global gains appear to have stalled ahead of a meeting between President Donald Trump and China’s President Xi Jinping.
was last up about 0.1%, sliding back from early session highs. Panasonic
was up 2.2% and Renesas Electronics
climbed 2% amid hopes for a strong U.S. holiday-shopping season. But so-called domestic-demand stocks that had recently attracted buying amid global-growth concerns were down. Pharmaceuticals and utilities were the two worst-performing sectors, respectively dropping 0.8% and 0.5%. That as the dollar
was around ¥113.46, versus ¥113.21 as of Monday’s Tokyo stock market close.
Hong Kong‘s Hang Seng Index
rose from early session lows and was last up 0.1%, with property stocks weak after yesterday’s gains. Energy was also lagging with oil prices sliding this morning, though tech names were up modestly; Cnooc
was off 1.5% while Tencent
rose nearly 1%. Meanwhile, Tingyi shares
are threatening to have their worst-ever day as the China-based instant noodle/beverage maker reported what Jefferies calls an unexpected revenue drop last quarter.
Chinese stocks were higher, led by small caps. The Shanghai Composite
climbed 0.4%, versus a 0.6% gain for the Shenzhen Composite
. Tech companies were doing well after recent weakness, and oil names were up after yesterday’s slump.
rose as energy companies gained. New Zealand stocks
were up slightly as well.
South Korea’s Kospi
rose as Hyundai Motor
jumped nearly about 5%. Taiwan’s Taiex
slipped as Foxconn
fell nearly 1%. Singapore’s benchmark index
was about flat.
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