Asian markets were mixed in early trading Tuesday, as stocks in Hong Kong and mainland China sank after posting early-session gains.
Hong Kong’s Hang Seng index HSI, -1.41% slid 1.3%, the Shanghai Composite SHCOMP, -0.93% fell 1.2% and the smaller-cap Shenzhen Composite 399106, -1.13% declined 1.3%. Japan’s Nikkei 225 NIK, -0.61% edged 0.2% higher. South Korea’s Kospi 180721, -1.01% fell 0.4% and Australia’s S&P/ASX 200 XJO, -0.11% was little changed. Stocks fell in Malaysia FBMKLCI, -0.77%, but gained in Singapore STI, +0.11% and Taiwan Y9999, -0.07%, with Indonesia JAKIDX, -0.57% flat.
Chinese internet-search giant Baidu made a disappointing debut in its $ 3 billion Hong Kong offering, with shares rising only slightly from its opening price. Baidu’s American Depository Receipts BIDU, +3.36% had jumped more than 3% on Monday.
U.S. stock benchmarks closed higher Monday. The Dow Jones Industrial Average DJIA, +0.32% rose 103.23 points, or 0.3%, to close at 32,731.20, snapping a two-session losing streak, while the S&P 500 SPX, +0.70% added 27.49 points, or 0.7%, to close at 3,940.59, also ending a two-session slide. The Nasdaq Composite Index COMP, +1.23% advanced 162.31 points to finish at 13,377.54, a gain of 1.2%.