Asian markets largely declined in early trading Tuesday, as President Donald Trump and North Korean leader Kim Jong Un traveled to Vietnam for their second summit.
No new reports of major progress in ongoing U.S.-China trade talks sapped enthusiasm that sent stocks in mainland China soaring Monday. The Shanghai Composite
rose 0.4% and the smaller-cap Shenzhen Composite
gained 0.2%. Hong Kong’s Hang Seng Index
fell 0.5%, while Japan’s Nikkei
declined about the same. South Korea’s Kospi
slipped 0.4% and Australia’s ASX 200
dropped 1.1%. Benchmark indexes in Taiwan
fell as well.
Among individual stocks, oil producer Inpex
tumbled in Tokyo trading while Mitsubishi UFJ
declined as well. AAC
plunged in Hong Kong
after the Apple
supplier warned that first-quarter net profits may fall as much as 75%. CNOOC and Galaxy Entertainment
also fell. Samsung
and SK Hynix
slipped in Korea. Sagging oil prices weighed down Australian energy companies, with Santos
, Beach Energy
and Oil Search
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