Asia-Pacific stock markets cooled in early trading Tuesday as the previous day’s global gains appear to have stalled ahead of a meeting between President Donald Trump and China’s President Xi Jinping.
was last up about 0.1%, sliding back from early session highs. Panasonic
was up 2.2% and Renesas Electronics
climbed 2% amid hopes for a strong U.S. holiday-shopping season. But so-called domestic-demand stocks that had recently attracted buying amid global-growth concerns were down. Pharmaceuticals and utilities were the two worst-performing sectors, respectively dropping 0.8% and 0.5%. That as the dollar
was around ¥113.46, versus ¥113.21 as of Monday’s Tokyo stock market close.
Hong Kong‘s Hang Seng Index
rose from early session lows and was last up 0.1%, with property stocks weak after yesterday’s gains. Energy was also lagging with oil prices sliding this morning, though tech names were up modestly; Cnooc
was off 1.5% while Tencent
rose nearly 1%. Meanwhile, Tingyi shares
are threatening to have their worst-ever day as the China-based instant noodle/beverage maker reported what Jefferies calls an unexpected revenue drop last quarter.
Chinese stocks were higher, led by small caps. The Shanghai Composite
climbed 0.4%, versus a 0.6% gain for the Shenzhen Composite
. Tech companies were doing well after recent weakness, and oil names were up after yesterday’s slump.
South Korea’s Kospi
rose as Hyundai Motor
jumped nearly about 5%. Taiwan’s Taiex
slipped as Foxconn
fell nearly 1%. Singapore’s benchmark index
was about flat.
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Source : MTV