Asian Stocks Mixed, Shares in South Korea, China Struggle


AsiaPacific markets traded mixed Tuesday after starting the week by struggling for gains in what some analysts have described as a fragile environment for stocks. In Australia, the benchmark ASX 200 trimmed some of its early gains but still finished the session up 0.47, or 31.6 points, at 6,771.20. The heavilyweighted financials subindex advanced 0.95 as major banking names rose. ANZ shares closed up 1.32, Commonwealth Bank added 0.65, Westpac rose 0.73 and National Australia Bank was up 0.83.

Japanese shares initially struggled after market open, but the Nikkei 225 erased early losses and closed up 0.99, or 284.69 points, at 29,027.94. The Topix index advanced 1.27, or 24.10 points, to 1,917.68. Banking and auto shares in Japan broadly rose as names like of Mitsubishi UFJ Financial Group, Toyota, and Honda finished up 1.84, 2.86 and 3.68, respectively.

South Korean shares fell, with the Kospi closing down 0.67, or 19.99 points, at 2,976.12 and the Kosdaq lost 0.93, or 8.41 points, to 896.36. Tech shares wavered between gains and losses Samsung fell 0.73, chipmaker SK Hynix reversed earlier losses and closed up 0.74, while search engine operator Naver tumbled 1.9. LG Electronics rose 1.05.

Chinese mainland shares fell, with the Shanghai composite closing down 1.82, or 62.12 points, at 3,359.29 and the Shenzhen component fell 2.8, or 388.09 points, to 13,475.72. In Hong Kong, the Hang Seng index advanced 0.24 in lateafternoon trade.

Tuesdays session followed after…


Please enter your comment!
Please enter your name here