SINGAPORE – Asia Pacific stocks were mixed in trading on Tuesday as several large Chinese technology stocks remained under pressure in Hong Kong following a slump on Monday.
By Tuesday afternoon, shares of Chinese tech giant Tencent in Hong Kong were down 4.98%, while Alibaba was down 4.16% and Meituan was down 10.61%. The Hang Seng Tech index lost 3.17%.
Hong Kong’s broader Hang Seng index fell 1.03% and continued to decline after collapsing more than 4% on Monday amid regulatory fears surrounding China’s tech and private education sectors.
Mainland stocks rose, with the Shanghai composite rising 0.14% while the Shenzhen component hovered above the flat line. Industrial company profits in China rose 20% year-over-year in June, official data showed on Tuesday. However, that was a decrease from the 36.4% year-over-year increase in May.
The Japanese Nikkei 225 rose 0.53% while the Topix index rose 0.67%. South Korea’s Kospi was trading 0.61% higher.
In Australia, the S & P / ASX 200 rose 0.55%.
MSCI’s broadest index for Asia Pacific stocks outside of Japan fell 0.43%.
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Overnight, the S&P 500 on Wall Street rose 0.24% to 4,422.30 while the Dow Jones Industrial Average climbed 82.76 points to 35,144.31. The Nasdaq Composite was slightly higher at 14,840.71. The gains pushed all three major indices in the states to new record highs.
Currencies and oil
The US dollar index, which tracks the greenback versus a basket of its competitors, hit 92.587 after falling over 92.8 recently.
The Japanese yen was trading at 110.17 per dollar, up against the dollar yesterday around 110.5. The Australian dollar was at $ 0.7381, up from yesterday’s level below $ 0.736.
Oil prices were higher on the afternoon of Asian trading hours, with international benchmark Brent crude oil futures rising 0.48% to $ 74.86 a barrel. US crude oil futures rose 0.38% to $ 72.18 a barrel.