Asia lower as energy takes hit

Asian shares closed mostly lower on Tuesday — with Japan the only major market finishing in positive territory — as energy stocks declined amid weakness in oil prices.

Markets in Japan returned from holiday, with the Nikkei 225 gaining 100.01 points, or 0.4%, to 22,698.36. Most sectors closed higher, with rail sector rising 2.3% and leading the gains. But amid the broader index climbing, miners declined and oil-related stocks fell amid the losses in oil prices. Against the yen, the U.S. dollar traded steady at 112.33

In Hong Kong, the Hang Seng tumbled 357.98 points, or 1.3%, to 28,181.68, with all its sectors in negative territory before the market close. Energy led the declines, with CNOOC dropping 3.2% and Petrochina losing 3%

South Korean auto stocks and retailers rose, but major technology names edged lower. Index bellwether Samsung Electronics finished down 0.4%.

Down Under, stocks wilted, with the 2.2% drop recorded by the energy sub-index weighing on the benchmark on the tumble in oil prices. Oil producers traded lower, with Woodside Petroleum declining 2.4% and Santos down 2.1% by the end of the day.


In Shanghai, the CSI 300 removed 22.71 points, or 0.7%, to 3,449.38,

The extended slide came a day after the release of China data, which showed economic growth slowed to 6.7% in the second quarter, compared to the 6.8% seen in the first three months of the year.

In other markets

In Singapore, the Straits Times Index regained 6.85 points, or 0.2%, to 3,239.64

In Taiwan, the Taiex index eased 38.46 points, or 0.4%, to 10,778.99

In Korea, the Kospi index dropped 4.07 points, or 0.2%, to 2,297.92

In New Zealand, the NZX 50 fell 1.42 points to 8,978.89

In Australia, the ASX 200 moved downward 37.88 points, or 0.6%, to 6,203.64