Asia-Pacific markets traded mixed on Tuesday after Wall Street looked past political uncertainty to log gains overnight, with China stocks leading declines.
In Japan, the Nikkei 225 edged downward 4.61 points to 39,594.39
In Hong Kong, the Hang Seng index skidded 166.52 points, or 0.9%, to 17,469.36.
South Korea’s producer price index in June rose 2.5% year on year, compared to a 2.3% rise in May. Stocks of popular messaging app Kakao dropped 4.63% after an arrest warrant was reportedly issued for founder Brian Kim by South Korean court over allegations of market manipulation.
Singapore’s consumer price index for June rose 2.4% year on year, beating Reuters’ expectations of a 2.7% increase. This compares to a 3.1% rise in May. The country’s core inflation, which strips out prices of accommodation and private transport, rose 2.9% year on year, slightly lower than Reuters’ estimates of 3%.
In other markets
In Shanghai, the CSI 300 dropped 75.04 points, or 2.1%, to 3,439.88.
In Singapore, the Straits Times Index recovered 23.9 points, or 0.7%, to 3,461.16.
In Korea, the Kospi index restocked 10.78 points, or 0.4%, to 2,774.29.
In Taiwan, the Taiex index soared 614.85 points, or 2.8%, to 22,871.84, more than making up for what it lost Monday.
In New Zealand, the NZX 50 recouped 115.68 points, or 0.9%, to 12,425.58.
In Australia, the ASX 200 hiked 39.39 points, or 0.5%, to 7,971.13.
