Stocks trade higher after negative start to the week

Visitors stands in front of an electronic ticker at the Tokyo Stock Exchange (TSE), operated by Japan Exchange Group Inc. (JPX), in Tokyo, Japan, on Monday, Nov. 30, 2020.

Toru Hanai | Bloomberg via Getty Images

Shares in the Asia-Pacific were mixed on Tuesday after sharp falls on Monday.

The Nikkei 225 in Japan rose 0.61%, and the Topix index gained 0.7%. In Australia, the S&P/ASX 200 added 0.25%. The Shanghai Composite in mainland China rose 0.26% and the Shenzhen Component was 0.314% higher.

South Korea’s Kospi struggled for direction and last lost 0.62%, while the Kosdaq shed 0.74%. In Hong Kong, the Hang Seng index lost 1.06%, with the Hang Seng Tech index down 1.7%.

MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.29%. China’s industrial profits for January to August fell 2.1% from the same period a year ago, official data showed.

Overnight in the U.S., major stock indexes dropped. The S&P 500 slipped 1.03% to 3,655.04, a new closing low for 2022. The Dow Jones Industrial Average fell into a bear market after it lost 329.60 points, or 1.11%, to 29,260.81. The Nasdaq Composite shed 0.6% to 10,802.92.

“The sell-off in bonds and equities continued as sterling’s weakness highlighted the fragility of markets to policy uncertainty,” ANZ Research analysts wrote in a Tuesday note, a day after the pound hit a record low.

— CNBC’s Sarah Min and Tanaya Macheel contributed to this report.

Leave a Reply

Your email address will not be published.

Back to top button