Asian markets were mixed in early trading Tuesday, following a lackluster session on Wall Street.
Investors continued to mull recent economic data while they away upcoming meetings by the U.S. Federal Reserve and the European Central Bank, both of which are expected to announce monetary stimulus moves.
U.S. Treasury Secretary Steve Mnuchin told Fox Business on Monday that he views the renewed trade talks with China in October as a sign of “good faith,” and claimed the tariff war has had no effect on the U.S. economy.
On Tuesday, data from China showed that consumer inflation rose more than expected in August, although the producer-price index unexpectedly fell 0.8% in August from a year ago.
Japan’s Nikkei NIK, +0.30% rose 0.2% while Hong Kong’s Hang Seng Index HSI, +0.05% was about flat. The Shanghai Composite SHCOMP, -0.36% retreated 0.4% while the Shenzhen Composite 399106, -0.43% slipped 0.5%. South Korea’s Kospi 180721, +0.40% gained 0.3%, while benchmark indexes in Taiwan Y9999, -0.51% , Singapore STI, +0.32% and Indonesia JAKIDX, +0.12% were mixed. Australia’s S&P/ASX 200 XJO, -0.65% fell 0.5%.
Among individual stocks, Nissan Motor 7201, +3.58% surged in Tokyo trading after its CEO announced he will step down next week. SoftBank 9984, +2.07% rose after a report that it is urging WeWork, which it had invested about $10 billion into, to shelve its IPO. Toyota 7203, +1.16% also rose, while Sony 6758, -1.71% fell. In Hong Kong, CNOOC 883, +2.33% and China Life Insurance 2628, +0.84% gained while Sunny Optical 2382, -3.49% and Country Garden 2007, -0.58% declined. Chip maker SK Hynix 000660, -1.66% fell in South Korea, while Taiwan Semiconductor 2330, -1.32% slipped in Taiwan. Beach Energy BPT, +2.24% and Oil Search OSH, +3.37% surged in Australia.
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