China Gains as Rest of Asia Slips

Shares in Asia-Pacific mostly tumbled on Tuesday after the S&P 500 fell overnight and closed in bear market territory, but mainland Chinese stocks bucked the overall regional trend to recover from earlier losses.

In Japan, the Nikkei 225 dumped another 357.58 points, or 1.3%, to 26,629.86.

The Japanese yen traded at 134.57 per U.S. dollar, stronger as compared with levels above 135 seen against the greenback yesterday.

In Hong Kong, the Hang Seng index inched higher 0.41 points to 21,067.99. Hong Kong-listed shares of Alibaba continued to sit close about 2.7% lower.

The Australian dollar was at $0.6954 after yesterday’s fall from above $0.70.

In other markets

In Shanghai, the CSI 300 gained 32.96 points, or 0.8%, to 4,222.31

In Singapore, the Straits Times Index lost 30.46 points, or 1%, to 3,108.89.

In Taiwan, the Taiex index dipped 23.61 points, or 0.2%, to 16,047.37.

In Korea, the Kospi docked 11.54 points, or 0.5%, to 2,492.97.

In New Zealand, the NZX 50 swooned 283.38 points, or 2.6%, to 10,641.36.

In Australia, stocks returned from a long weekend to lose 245.95 points, or 3.6%, to 6,686.03.