Hong Kong Market Ends Flat, Shanghai Rises

Hong Kong shares ended virtually unchanged on Tuesday as investors await the release of US jobs data later in the week, while mainland markets were lifted by data showing an uptick in Chinese factory activity.

The Hang Seng Index inched up just over seven points to 25,184.

On the mainland, the Shanghai Composite Index rose 0.4 percent, to 3,410 while the Shenzhen Composite Index added 0.7 percent, to 2,310 with help coming from news that a survey of Chinese manufacturing had shown a pick-up in activity, a day after an official reading showed a slight dip in the sector.

Tokyo was flat, while Mumbai added 1.3 percent, a day after data showed the Indian economy shrank a historic 23.9 percent in April-June, which was worse than expected.

Seoul, Taipei, Jakarta and Bangkok were well in positive territory but Sydney, Manila and Wellington were more than 1 percent lower, while Singapore also dropped.

Signs of a new pick-up in infections around the world and a lack of any movement on a new US stimulus package for the world's top economy were keeping buying sentiment at bay.

"Following such a strong month and such a strong recovery since we saw the trough back in March, we do think we could see some turbulence over the next few months," Tracie McMillion, at Wells Fargo Investment Institute, told Bloomberg Television.

"We're entering a seasonally weaker period, we've got elections on the horizon, and also we're entering the fall and there could be some coronavirus escalation that also could start to worry market participants." (AFP)