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Asia Directionless After Dow Ends Streak

Asia-Pacific markets were mixed on Tuesday as stocks on Wall Street stumbled overnight, with the Dow Jones Industrial Average snapping an eight-day winning streak.

In Japan, the Nikkei 225 index recovered 176.6 points, or 0.5%, to 38,356.06.

Shares of Japanese investment group Softbank Group Corp climbed more than 4% on Tuesday as the company’s Vision Fund posted its first annual gain in 3 years.

Softbank posted a 724.3 billion Japanese yen ($4.6 billion) gain on its Vision Fund in the fiscal year ended in March.

But for the full year, Softbank recorded an overall loss of 227.6 billion yen), narrower than the 970.1 billion yen loss from the previous fiscal year.

Revenue climbed 2.8% year on year to 6.76 trillion yen, up from the 6.57 trillion in the same period last year.

Data from the Bank of Japan showed that corporate inflation was steady in April compared with a year earlier, but import prices jumped 6.4% year over year last month, most likely due to the yen’s sharp declines.

In Hong Kong, the Hang Sang index slipped 41.35 points, or 0.2%, to 19,073.71.

In other markets

In Shanghai, the CSI 300 lost 7.64 points, or 0.2%, to 3,657.05.

In Singapore, the Straits Times Index moved ahead 9.69 points, or 0.3%, to 3,313.35.

In Korea, the Kospi index forged ahead 3.13 points, or 0.1%, to 2,730.34.

In Taiwan, the Taiex index jumped 128.14 points, or 0.6%, to 20,985.85.

In New Zealand, the NZX 50 index dropped 34.07 points, or 0.3%, to 11,618.09.

In Australia, the ASX 200 fell 23.26 points, or 0.3%, to 7,726.76.