SINGAPORE — Shares in the Asia-Pacific region were mixed on Tuesday on a quiet data day as markets continued to digest last week’s stellar US jobs report.
SoftBank Group shares fell about 7 percent after its Vision Fund reported a loss of 2.93 trillion Japanese yen ($21.68 billion) for the June quarter after the market closed on Monday. The technology-focused fund has suffered as central banks raise interest rates to fight inflation.
Japan’s Nikkei 225 fell 0.88 percent to close at 27,999.96, and the Topix fell 0.74 percent to 1,937.02.
South Korea’s Kospi closed about 0.42 percent higher at 2,503.46, while the Kosdaq gained 0.34 percent to 833.65.
In Australia, the S&P/ASX 200 rose 0.13% to 7,029.8 points.
Instead, markets weighed in on Friday’s strong payrolls report, with several more US banks announcing 75bp hikes. in September.
Tapas Strickland
Economist, National Australia Bank
Hong Kong’s Hang Seng index gave up earlier gains to trade 0.3 percent lower in the final hour of the session, while heavyweight Alibaba climbed about 0.7 percent.
Alibaba has applied to change its listing status in Hong Kong to primary from secondary, the company said in a statement to the Hong Kong stock exchange. The Hong Kong Stock Exchange acknowledged the filing on August 8. The change is likely to take effect before the end of 2022.
The tech giant first announced plans for a dual initial public offering in Hong Kong last month.
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Markets in mainland China are advancing. The Shanghai Composite gained 0.32% to 3,247.43 and the Shenzhen Component added 0.235% to 12,331.09.
Shares of smart transport firm Zhengzhou Tiamaes Technology jumped nearly 20% after China’s Ministry of Transport released draft rules on self-driving vehicles that could lead to the legalization of such vehicles on public roads.
Shares of ShenZhen RoadRover Technology jumped 10%, hitting their trading limit, according to Chinese media.
MSCI’s broadest index of Asia-Pacific shares outside Japan was little changed.
China’s ongoing military exercises around Taiwan haven’t affected markets much, according to Tapas Strickland, an economist at National Australia Bank.
“Instead, markets were weighing in on Friday’s strong wages report with several more US banks announcing a 75bp increase.” in September,” he said in a note on Tuesday.
As for economic data, investors await US consumer price index data due on Wednesday.
Markets in Singapore and India are closed for a holiday on Tuesday.
Overnight in the US, the S&P 500 fell 0.12% to 4,140.06 and the Nasdaq Composite lost 0.1% to 12,644.46. The Dow Jones Industrial Average rose slightly to close at 32,832.54.
Currencies and oil
The U.S. dollar index, which measures the currency against a basket of six foreign currencies, was at 106.320, slightly lower after a recent jump to nearly 107.
“Continued hawkish messages from the Fed and a strong CPI result could support the US dollar,” Christina Clifton, an economist at Commonwealth Bank of Australia, wrote in a morning note on Tuesday.
The Japanese yen was trading at 134.92 per dollar after weakening sharply following last week’s strong US jobs report.
The Australian dollar was at $0.6969. It briefly climbed above $0.70 overnight.
Oil futures settled nearly 2% higher in Monday’s session. U.S. West Texas Intermediate futures were 0.79 percent lower on Tuesday in Asia at $90.09 a barrel, while Brent crude lost 0.68 percent to $95.99 a barrel.
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