Asia Markets: Asian markets mixed as Baidu flops in Hong Kong debut

United States

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%.