Japan shares rose to a fresh two-and-a-half-month high, while most Asian markets weakened amid sharpening worries about global growth.
The Nikkei 225 built on previous positive sessions by gaining 28.52 points, or 0.2%, to 19,671.26, buoyed by a weakening yen.
The Japanese yen has been trading at its weakest levels against the U.S. dollar since late August, as the dollar strengthens on the outlook for higher rates. The yen was off 0.1% in Asia trade at ¥123.31 per U.S. dollar.
In Hong Kong, the Hang Seng fell 325.07 points, or 1.4%, to 22,401.70
CHINA
The CSI 300 in Shanghai inched back 7.12 points, or 0.2%, to 3,833.24
On Tuesday, China reported consumer inflation slowed last month because of lower food prices. The consumer-price index rose 1.3% in October from a year earlier, compared with a 1.6% rise in September. The reading, on the heels of weak export data over the weekend, is the latest indication of China’s slowdown and flagging domestic demand.
China shares slipped from their close Monday, which was their highest since Aug. 20. The market had rallied as investors interpreted officials’ plan to reopen the domestic market for initial public offerings as a signal of the market’s firmer footing.
Outstanding margin loans rose for the fifth consecutive session to over 1.1 trillion yuan ($172.86 billion U.S.) Monday, the highest level since August 25, according to Wind Information Co. Borrowing to buy stocks fell abruptly in the throes of the selloff, when regulators clamped down on the gray-market lending and investors pulled back from the stock market. Levels started to pick up again in October.
In Shanghai, shares of Wenfeng Great World Chain Development Corp and Daheng New Epoch Technology Inc. both rose by the 10% daily limit set by regulators on Tuesday.
The two firms said late Monday that they were notified by the Shanghai Stock Exchange that police had frozen the holdings of Zheng Suzhen, who holds 30% of Daheng and 15% of Wenfeng, according to the company’s statements. The stakes are worth some 4.3 billion yuan ($677 million U.S.) as of Monday’s closing levels before the announcements.
Zheng is the mother of a renowned Chinese fund manager arrested earlier this month for alleged insider trading and stock price manipulation.
In other markets
Markets in Singapore were shuttered for holiday.
The Kospi index in Korea lost 29.11 points, or 1.4%, to 1,996.56
Taiwan’s Taiex index dropped 105.58 points, or 1.2%, to 8,536.90
The NZX 50 subtracted 45.08 points, or 0.8%, to 6,002.81
The ASX 200 dropped 20.26 points, or 0.4%, to 5,099.23
