Asian shares closed mixed on Tuesday, as some regional markets bounced back one day after declining over jitters related to economic uncertainty in Turkey.
In Japan, the Nikkei 225 regained 498.65 points, or 2.3%, to 22,356.08, as the yen gave up some of its recent strength — amid safe haven demand on uncertainty in Turkey. The yen traded at 111.01 to the U.S. dollar, compared to levels around the 110.3 handle seen during Asia Monday trade.
Exporters, including automakers and tech names, bounced back, with Honda Motor up 2% for the day.
In Hong Kong, the Hang Seng stumbled 183.64 points, or 0.7%, to 27,752.93, with the 4.3% drop in industrials leading losses before the market close.
Tech sector names also recorded heavy declines an hour before the Hong Kong close, with heavyweight Tencent dropping 3.7%, after the tech giant was stopped from selling a new game days after its launch.
Shares of Sunny Optical plunged 24.1% after the company announced first-half results on Monday. Revenue for the period rose 19.4% to 11.98 billion yuan ($1.74 billion) and net profit increased 2.5%, while net profit margin decreased.
In Korea, stocks fought their way higher as tech names were a mixed bag, with LG Electronics dropping 3.5%, while index bellwether Samsung Electronics tacked on 0.2%.
Australian issues hiked, with the financials, telecommunications and information technology sub-indexes recording gains of more than 1%.
In Asian corporate news, Taiwanese contract manufacturer Foxconn (or Hon Hai Precision Industry) on Monday reported second-quarter net profit came in at 14.49 billion Taiwan dollars ($567.25 million), Reuters reported. That was below an average estimate of T$21.94 billion in a Reuters poll. Shares closed down 2.98 percent for the day.
The Turkish lira traded at 6.6150 late in the Asian afternoon, after trading at the 6.9 handle earlier in the session and touching a record low on Monday. The currency had pared some of its recent losses overnight after the Turkish central bank moved to calm market nerves.
CHINA
In Shanghai, the CSI 300 lost 17.43 points, or 0.5%, to 3,372.91, as markets digested a barrage of data released earlier.
China fixed asset investment growth rose 5.5%, compared to one year ago, missing the 6% estimate of economists. Retail sales for the month of July also came in below expectations, while industrial output was firm.
In other markets
In Singapore, the Straits Times STI index dropped 2.47 points, or 0.1%, to 3,242.87
In Taiwan, the Taiex index regained 75.31 points, or 0.7%, to 10,824.23
In Korea, the Kospi index recouped 10.46 points, or 0.5%, to 2,258.91
In New Zealand, the NZX 50 restored 26.9 points, or 0.3%, to 8,971.94
In Australia, the ASX 200 strengthened 47.47 points, or 0.8%, to 6,299.64
