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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
HSI,
slid 1.3%, the Shanghai Composite
SHCOMP,
fell 1.2% and the smaller-cap Shenzhen Composite
399106,
declined 1.3%. Japan’s Nikkei 225
NIK,
edged 0.2% higher. South Korea’s Kospi
180721,
fell 0.4% and Australia’s S&P/ASX 200
XJO,
was little changed. Stocks fell in Malaysia
FBMKLCI,
but gained in Singapore
STI,
and Taiwan
Y9999,
with Indonesia
JAKIDX,
flat.
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
BIDU,
had jumped more than 3% on Monday.
U.S. stock benchmarks closed higher Monday. The Dow Jones Industrial Average
DJIA,
rose 103.23 points, or 0.3%, to close at 32,731.20, snapping a two-session losing streak, while the S&P 500
SPX,
added 27.49 points, or 0.7%, to close at 3,940.59, also ending a two-session slide. The Nasdaq Composite Index
COMP,
advanced 162.31 points to finish at 13,377.54, a gain of 1.2%.
