Hong Kong stocks declined on Tuesday, retreating from a seven-year closing high, as investors took some profit after eight straight sessions of advances.
In Japan, the Nikkei 225 index regained 3.22 points to 19,908.68. The yen gained against the greenback, with the U.S. dollar buying ¥119.73, compared to ¥120.74 at Monday’s Tokyo stock close.
In Hong Kong, the Hang Seng index dumped 454.85 points, or 1.6%, to 27,561.49, after several consecutive days of healthy gains
Index heavyweight Tencent Holdings Ltd. sank 5.5% following a 5.4% jump on Monday, after exchange filings showed the online-content company’s chairman, Pony Ma, sold two million shares last week for 3.2 billion Hong Kong dollars ($416 million U.S.), decreasing his personal stake in Tencent to 9.65%.
CHINA
Meanwhile, Shanghai markets extended recent rallies after a choppy session, as investors looked ahead to a slew of key economic data due out on Wednesday, including China’s GDP growth figures for the first quarter.
The Shanghai CSI 300 added 17.11 points, or 0.4%, to 4,438.18
Macau gaming stocks extended losses, as investors worried China might restrict mainland tourist visits to Macau after announcing a new internal visa arrangement on Monday to slash visits to Hong Kong by residents from the neighboring city of Shenzhen.
Galaxy Entertainment Group Ltd. slid 5.6%, SJM Holdings Ltd. sagged 5.4%, Sands China Ltd. fell 4.8%, and Wynn Macau Ltd. shed 4.4%.
Mainland banks were also broadly weaker, despite that China’s central bank injected 10 billion yuan ($1.6 billion U.S.) into money markets via seven-day reverse purchase agreements and cut the rate by 10 basis points to 3.35%, in a move attempted to guide short-term borrowing costs lower. China Merchants Bank Co., Ltd. gave up 6.1% following a previous 24.8% surge. China Minsheng Banking Corp., Ltd. lost 3.4%, and Bank of China Ltd. dropped 2%.
In other markets
In Singapore, the Straits Times Index tacked on 36.69 points, or 1.1%, to 3,521.08
The Kospi index in Korea gained 12.80 points, or 0.6%, to 2,111.72
In Taiwan, the Taiex index fell 24.30 points, or 0.3%, to 9,642.22
In New Zealand, the NZX 50 moved upward 27.79 points, or 0.5%, to 5,882.11
In Australia, the S&P/ASX 200 dropped 13.72 points, or 0.2%, to 5,946.55
