Asian markets were mixed in early trading Tuesday, following a lackluster session on Wall Street.
Investors continued to mull recent economic data while they away upcoming meetings by the U.S. Federal Reserve and the European Central Bank, both of which are expected to announce monetary stimulus moves.
U.S. Treasury Secretary Steve Mnuchin told Fox Business on Monday that he views the renewed trade talks with China in October as a sign of “good faith,” and claimed the tariff war has had no effect on the U.S. economy.
On Tuesday, data from China showed that consumer inflation rose more than expected in August, although the producer-price index unexpectedly fell 0.8% in August from a year ago.
rose 0.2% while Hong Kong’s Hang Seng Index
was about flat. The Shanghai Composite
retreated 0.4% while the Shenzhen Composite
slipped 0.5%. South Korea’s Kospi
gained 0.3%, while benchmark indexes in Taiwan
were mixed. Australia’s S&P/ASX 200
Among individual stocks, Nissan Motor
surged in Tokyo trading after its CEO announced he will step down next week. SoftBank
rose after a report that it is urging WeWork, which it had invested about $10 billion into, to shelve its IPO. Toyota
also rose, while Sony
fell. In Hong Kong, CNOOC
and China Life Insurance
gained while Sunny Optical
and Country Garden
declined. Chip maker SK Hynix
fell in South Korea, while Taiwan Semiconductor
slipped in Taiwan. Beach Energy
and Oil Search
surged in Australia.