Stocks in Hong Kong slipped Tuesday, as the Asia region took a cue from weaker U.S. markets overnight, although Shanghai saw mild gains, building on a surge yesterday.
In Tokyo, the Nikkei 225 index inched up 3.93 points to close Tuesday at 19,624.84
In Hong Kong, the Hang Seng Index jettisoned 311.02 points, or 1.1%, to 27,407.18
A rise in U.S. treasury yields, which push up corporate and household borrowing costs, are also a negative for stocks, according to one expert. Gains in global bond yields have led to volatility globally in recent weeks, particularly during the period leading up to last Friday’s U.S. jobs data.
CHINA
The Shanghai CSI 300 gained 57.47 points, or 1.2%, to 4,748, as a rate cut by China over the weekend is buoying gains in some markets.
In other markets
In Korea, the Kospi index dropped 0.61 points to 2,096.77
In Taiwan, the Taiex regained 17.01 points, or 0.2%, to 9,680.73
In Singapore, the Straits Times index subtracted 28.47 points, or 0.8%, to 3,442.33
In New Zealand, the NZX 50 slid 1.72 points to 5,746.23
In Australia, the S&P/ASX 200 recovered 49.50 points, or 0.9%, to 5,674.74
