Japanese Markets Run Hot Streak to 16

Asian markets were little changed in Tuesday trade after U.S. stocks lost steam overnight and the dollar edged down from three-month highs.

The Nikkei 225 index continued its impressive recent run, picking up 108.52 points, or 0.5%, to 21,805.17, fresh 21-year high and closing higher for the 16th straight session.

The Hang Seng Index plummeted 150.91 points, or 0.5%, to 28,154.97

Korean markets inched higher, even though most blue-chip tech stocks edged lower: SK Hynix closed down 3.4%, LG Electronics declined 3.9% and Samsung Electronics was off 0.5%

Down Under, stocks eked higher. Financials and energy stocks edged down, but gold miners notched significant gains: Kingsgate closed up 4.7% and Alacer Gold rose 4%.

The New Zealand dollar declined on Tuesday after the incoming government announced details of its policy priorities. The kiwi dollar traded at $0.6925 U.S. late in the day, compared to levels around $0.697 handle seen on Monday. The currency traded near five-month lows touched last week after the Labour-led coalition was announced.

Meanwhile, the greenback pared gains after touching a more than three-month high overnight following Japanese Prime Minister Shinzo Abe's election victory. The dollar fetched 113.64 yen late in the session, compared to the 113.7 handle seen at the end of Asian trade on Monday.

In corporate news, Thai Airways International has picked All Nippon Airways as its only flight-sharing partner in Japan, dropping its previous arrangements with Japan Airlines, Nikkei Asian Review reported. Shares of both Japanese airlines closed higher: ANA was up 0.1% and Japan Airlines gained 0.3%.

Meanwhile, Foxconn Chairman Terry Gou met with Apple COO Jeff Williams to talk about production of the iPhone X, Nikkei reported. Pre-orders for the new iPhone model open on Oct. 27. Hon Hai Precision Industry shares closed flat.


In Shanghai, the CSI 300 climbed 28.6 points, or 0.7%, to 3,959.40

China's 19th Party Congress, which drew to an official close on Tuesday, was also in focus. China watchers will be paying close attention to the unveiling of the country's new leadership lineup expected on Wednesday.

The Communist Party on Tuesday approved a revised version of its constitution that now includes Chinese President Xi Jinping's name. The only other Chinese leader who has been in office when they had their name honoured in that manner was Mao Zedong.

In other markets

In Korea, the Kospi index inched up 0.44 points to 2,490.49

In Taiwan, the Taiex Index gained 8.57 points, or 0.1%, to 10,743.78

In Singapore, the Straits Times Index sifted off 15.13 points, or 0.5%, to 3,334.67

In New Zealand, the NZX 50 came back from a long weekend to squeeze up 0.55 points to 8,130.10

In Australia, the ASX 200 regained 3.65 points, or 0.1%, to 5,897.61