HSI Ends With A Gain, Asian Markets Mixed

Hong Kong stocks ended higher on Tuesday in quiet trade as investors took a step back after recent gains, while looking ahead to the start of corporate earnings season.

The Hang Seng Index added 0.2 percent, to 28,619.

On the mainland, the Shanghai Composite Index dipped 0.2 percent, to 2,937 and the Shenzhen Composite Index was barely moved, and closed at 1,571.

Most Asian markets were mixed Tuesday as investors took a breather after a recent rally.

Tokyo led losses as it reopened after a long weekend, with the Nikkei ending down 0.7 percent, hit by a stronger yen.

Sydney, Wellington, Manila and Jakarta also fell but Singapore, Seoul, Manila and Taipei squeezed out gains. Most markets swung through the day.

Dealers are also keeping an eye on Beijing to see if it unveils any economic stimulus as data on Monday showed second-quarter growth at its weakest pace for almost three decades.

But Bob Doll, at Nuveen Asset Management, warned markets remained volatile.

"We are concerned about complacency as investors seem to believe the Fed will save the day, the US-China trade dispute will be resolved relatively soon and massive China stimulus will boost global growth," he said.

"We think this combination is a tall order. As a result, market risks lean more to the downside." (AFP)