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Equity markets in the Asia-Pacific (APAC) region were mostly lower on Tuesday, with stocks of Chinese companies in Hong Kong falling again as regulatory fears resurfaced.
The sentiments in the APAC region turned negative despite Wall Street closing in the green overnight.
The Dow Jones Industrial Average surged 110.02 points to 35,625.40 while the S&P500 gained 0.26% to 4,479.71. The Nasdaq Composite lagged as it dipped 0.2% to 14,793.76.
Investors are also keenly awaiting data on US retail sales, slated to be released on Tuesday by the Census Bureau.
Meanwhile, Morgan Stanley Capital International’s broadest index of Asia-Pacific shares outside Japan traded 0.81% lower.
Here is how major APAC markets are doing on Tuesday morning:
Hong Kong: Hang Seng, the premier benchmark of this Chinese autonomous region, was down 0.68%, primarily dragged by shares of Chinese tech companies. The Hong Kong-listed shares of Tencent dropped 3.70% while Alibaba dipped 2.77% and JD.com crashed 3.26%. The Hang Seng Tech index slipped 1.15%. The losses came after China’s State Administration for Market Regulation (SAMR) on Monday published draft legislations banning unfair competition in the internet space.
China: The Chinese indices as well crashed on Tuesday. The Shanghai Composite was up 0.48%, while the Shenzhen component was down 0.47%.
Australia: The Australian indices continued their losses for the second consecutive day. The benchmark ASX200 index was down 1.09%. The dip in indices comes as the country continues to battle the surge in COVID-19 pandemic. Two of the largest cities in the country – Sydney and Melbourne – have been placed under lockdown.
Other APAC Markets: In Japan, the benchmark Nikkei 225 was up 0.11%, while KOSPI in South Korea was down 0.68%. On the other hand, the Topix index of Japan was largely flat.
