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, -1.18% slid 1.3%, the Shanghai Composite SHCOMP, -1.19% fell 1.2% and the smaller-cap Shenzhen Composite 399106, -1.26% declined 1.3%. Japan’s Nikkei 225 NIK, -0.36% edged 0.2% higher. South Korea’s Kospi 180721, -0.71% fell 0.4% and Australia’s S&P/ASX 200 XJO, -0.11% was little changed. Stocks fell in Malaysia FBMKLCI, -0.70%, but gained in Singapore STI, +0.25% and Taiwan Y9999, +0.06%, with Indonesia JAKIDX, -0.19% 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%.