Chinese companies listed in Hong Kong moved lower Tuesday, after Monday’s towering gains, as hopes for reform continued to support stocks, while a stronger yen weighed on Japanese shares.
In Tokyo, the Nikkei 225 index dipped 37.74 points, or 0.3%, to 15,126.56
The index inched lower as the U.S. dollar fell back below the ¥100 mark, as much of the dollar’s rise last week was due to its ascent above this much-watched level.
On Tuesday, the dollar was last trading at ¥99.83, compared with ¥99.99 late Monday in New York. The stronger yen weighed on some exporter stocks — with Honda Motor Co. down 1.1% and Tokyo Electron 3.6% lower.
Hong Kong’s Hang Seng Index retreated 2.25 points, or 0.1%, to 23,657.81
China Merchants Bank Co. rose 1.9%, and China Life Insurance Co. added 4.8%.
The Australian dollar ticked up to 94.05 U.S. cents after minutes from the Reserve Bank of Australia showed that the central bank is leaving the door open to further interest-rate cuts while sounding more confident on the economy.
Australian stocks, though, fell for the second straight day, as Commonwealth Property Office Fund jumped 5% in Sydney after a bidding war broke out for the company — one of Australia’s largest office landlords. GPT Group Tuesday made a cash-and-shares offer for the firm, valuing it at three billion Australian dollars ($2.8 billion U.S.) and beating a joint offer from Dexus Property Group and Canada Pension Plan Investment Board.
In other markets;
Shanghai’s CSI 300 index fell 16.74 points, or 0.7%, to 2,412.16
Korea’s Kospi Index added 20.83 points, or 1%, to 2,031.64
Taiwan’s Taiex Index grew 68.75 points, or 0.8%, to 8,260.21
The Singapore Straits Times Index erased 10.95 points, or 0.3%, to 3,192.08
In New Zealand, the NZX 50 slid 29.53 points, or 0.6%, to 4,862.51
In Australia, the S&P/ASX 200 shed 31.76 points, or 0.6%, to 5,352.90
