Statues of bulls in the Lujiazui Financial District in Pudong in Shanghai, China, on Monday, October 21, 2024.
Chilai Shen | Bloomberg | Getty Images
Chinese stocks were mixed on Tuesday amid broader gains in Asia-Pacific markets, following losses on Wall Street that saw the S&P 500 and Nasdaq composite indexes retreat from their record highs ahead of key inflation data.
Sentiment was strengthened after Beijing announced “more proactive” financial measures and a “moderately” more flexible monetary policy next year as part of efforts to boost domestic consumption.
The CSI 300 index in mainland China rose 0.74%, paring previous gains and closed at 3,995.64, while Hang Seng Index in Hong Kong It is down 0.2% as of the last hour.
News of the measures, which came from official readings late Monday after the mainland China market closed, pushed the Hang Seng Index nearly 3% higher that evening.
The yield on China's 10-year bond hit a record low on Tuesday, last at 1.893%.
South Korea standard Cosby It rose 2.43% and led gains in the region, closing at 2,417.84, marking its best day in almost three months.
Meanwhile, the Kosdaq Small Cap Index rose 5.52% to 661.59 as investors continued to monitor the political situation in the country.
South Korean news agency Yonhap reported that the leader of the main opposition party, Lee Jae-myung, said his party would approve a bill to reduce the size of the budget for next year through a plenary session later in the day.
Australia's S&P/ASX 200 index closed down 0.36% to close at 8,393, after the Reserve Bank of Australia kept its benchmark interest rate at 4.35% for the tenth time in a row.
Japan Nikki 225 The Topix index rose 0.53% and closed at 39,367.58 points, while the Topix index rose 0.25% to 2,741.41 points.
In the US on Monday, technology stocks struggled and investors braced for key inflation data due this week.
The S&P 500 index fell 0.61%, closing at 6,052.85, and the Nasdaq index, which was dominated by technology stocks, fell 0.62%, closing at 19,736.69. The Dow Jones Industrial Average fell 240.59 points, or 0.54%, to 44,401.93 points.
AI leader Nvidia saw its shares fall about 2.6% after a Chinese regulator announced it was investigating the AI chip giant for possible violations of the country's antitrust law.
Advanced Micro Devices, another chipmaker, closed down 5.6%, while tech giants Meta Platforms and Netflix also suffered.
Bitcoin prices also fell after surpassing $100,000 for the first time ever last week, a sign that investors may be pulling back from risky assets.
— CNBC's Sean Conlon and Sarah Main contributed to this report.
