Asian markets mixed, though energy stocks surge

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Asian stock markets were mixed early Wednesday, as rising oil prices and trade tensions continued to set the tone for trading

Japan’s Nikkei












NIK, -0.28%










  fell 0.5%, with oil consumers lagging on crude’s overnight pop following a U.S. official’s comments warning the world to end Iranian oil imports or face sanctions. Major shipper Mitsui OSK












9104, -2.44%










  was down 3.4% while airline operator ANA












9202, -1.53%










  fell 1.6%. Conversely, energy stocks were up with oil explorer Japan Petroleum Exploration












1662, +2.34%










  rising 1.9% and distributor JXTG












5020, +1.96%










  climbing 2%.

Chinese stocks opened little changed, a day after the Shanghai Composite












SHCOMP, -0.45%










  hit fresh two-year lows and entered bear-market territory to join Shenzhen index












399106, -0.54%










  at least 20% below their most recent highs.

Hong Kong stocks started slightly higher, as the Hang Seng












HSI, -0.40%










  looked to end its slump after closing down seven of the past nine days to hit six-month lows. Insurer AIA












1299, -0.22%










  was 0.4% higher, while energy stocks jumped, with CNOOC












0883, +5.09%










  5.7% higher and PetroChina












0857, +1.75%










  up 1.9%.

China’s largest steel-trading platform filed an IPO application in Hong Kong, with Zhaogang.com said to be seeking to raise around $500 million. The move marks the third major Chinese company with a dual-class structure to seek a listing in Hong Kong following recent rule changes, following smartphone maker Xiaomi and Chinese tech startup Meituan.

South Korea’s Kospi reversed early gains, as losses by automakers and steelmakers outweighed gains by tech companies. Posco












005490, -1.75%










  fell while Samsung












005930, +0.43%










  gained.

Stocks in Malaysia












FBMKLCI, +0.06%










 , Singapore












STI, +0.33%










  and Taiwan












Y9999, +0.08%










  were up modestly, as were benchmarks in Australia












XJO, +0.03%










  and New Zealand












NZ50GR, +0.44%










 .



Source : MTV