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,
-1.46%
slid 1.3%, the Shanghai Composite
SHCOMP,
-1.20%
fell 1.2% and the smaller-cap Shenzhen Composite
399106,
-1.41%
declined 1.3%. Japan’s Nikkei 225
NIK,
-0.61%
edged 0.2% higher. South Korea’s Kospi
180721,
-0.99%
fell 0.4% and Australia’s S&P/ASX 200
XJO,
-0.11%
was little changed. Stocks fell in Malaysia
FBMKLCI,
-0.70%,
but gained in Singapore
STI,
+0.05%
and Taiwan
Y9999,
-0.07%,
with Indonesia
JAKIDX,
-0.19%
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,
+3.36%
had jumped more than 3% on Monday.
U.S. stock benchmarks closed higher Monday. The Dow Jones Industrial Average
DJIA,
+0.32%
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,
+0.70%
added 27.49 points, or 0.7%, to close at 3,940.59, also ending a two-session slide. The Nasdaq Composite Index
COMP,
+1.23%
advanced 162.31 points to finish at 13,377.54, a gain of 1.2%.
