Asia Stocks Mixed After Volatile U.S. Session

Stocks in Asia traded mixed on Tuesday afternoon on the back of a volatile session on Wall Street which saw the Dow recover from a 507-point drop.

The Nikkei 225 dropped 71.48 points, or 0.3%, to 21,148.02.

Shares of Japanese conglomerate Softbank gained 2.5% after the company announced on Monday that shares of its mobile unit IPO would be priced at 1,500 yen apiece (approx. $13.25 U.S). Softbank is expected to raise 2.65 trillion yen from the listing (approx. $23.4 billion U.S.).

The Japanese yen traded at 113.22 against the U.S. dollar after seeing highs around above 112.2 yesterday.

In Hong Kong, the Hang Seng Index recovered 19.29 points, or 0.1%, to 25,771.67

Korean shares were fairly flat, with shares of LG Electronics higher by 2.1%.

Samsung Biologics surged 17.8% on the day after South Korea’s stock exchange decided on Monday to allow it to continue trading following a suspension in mid-November over concerns it had intentionally breached accounting rules ahead of its listing in 2016.

Australian stocks were positive. Shares of Australia’s so-called Big Four banks saw gains on the day. Australia and New Zealand Banking Group rose 0.5% and Commonwealth Bank of Australia advanced by 0.2%, Westpac rose 0.8% and National Australia Bank climbed up by 0.4%.

The Australian dollar was at $0.7205 after seeing an earlier low of $0.7182.

In other markets

In Shanghai, the CSI 300 regained 15.06 points, or 0.5%, to 3,159.82

In Taiwan, the Taiex index recouped 59.5 points, or 0.6%, to 9,707.04

In Korea, the Kospi index slid 0.82 points at 2,052.97

In Singapore, the Straits Times Index declined 13.16 points, or 0.4%, to 3,059.28

In New Zealand, the NZX 50 recovered 10.92 points, or 0.1%, to 8,670.94

In Australia, the ASX 200 pointed upward 23.38 points, or 0.4%, to 5,575.88