Nikkei slips, but Chinese stocks bounce back after Monday’s plunge

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Asian markets were mixed in early trading Tuesday, with Chinese equities rising while Japanese stocks fell.

Japan’s Nikkei














NIK, -0.92%












  dropped about 1%, though analysts said that was mostly a catch-up reaction to Monday’s widespread regional declines that took place while Japanese markets were closed for a holiday. Electronics were among the biggest decliners as concerns over U.S.-China trade tensions continue to grow and as the yen














USDJPY, -0.10%












  has rebounded since Friday. Sharp














6753, -4.26%












  and Renesas














6723, -4.23%












  were down nearly 4% amid broad selling, with just two of the 33 Topix sectors — construction and real estate — logging gains shortly after the open. Financials have fallen less, with bond yields remaining up. The 10-year JGB was up a half-basis point at 0.15%.

Hong Kong’s Hang Seng Index














HSI, +0.47%












  was up 0.5% as it tried to avoid its second six-day losing streak in a month. Tencent














0700, -0.07%












  hit fresh 15-month lows in dropping more than 0.5% in early trading, but recovered to positive territory. Meanwhile, automaker Geely














0175, -2.83%












  skidded 3% after its September sales report. But oil heavyweight CNOOC














0883, +2.92%












 climbed nearly 3%.

Chinese stocks were higher in early trading after yesterday’s wide 4% slides left indexes there near multiyear lows. The Shanghai Composite














SHCOMP, +0.49%












  rose an early 0.3% while the smaller-cap Shenzhen Composite














399106, +0.12%












  climbed 0.4%. A bounce-back after Monday’s post-holiday slide wasn’t unexpected, but the key question is whether it’s sustainable.

Australia’s ASX 200














XJO, -0.97%












  slipped almost 1%, dragged by financial stocks such as Commonwealth Bank of Australia














CBA, -0.81%












New Zealand’s benchmark














NZ50GR, -0.83%












  fell almost as much.

Singapore’s stock benchmark














STI, -0.25%












  hit a three-week low while Malaysia’s benchmark














FBMKLCI, -0.03%












  slipped slightly as well. Taiwan’s Taiex














Y9999, -0.12%












  gained a bit. South Korean markets were closed for a holiday.

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Source : MTV