Daily Stock Market News

Stocks mostly higher, China markets pop

Visitors stands in front of an electronic ticker at the Tokyo Stock Exchange (TSE), operated by Japan Exchange Group Inc. (JPX), in Tokyo, Japan, on Monday, Nov. 30, 2020.

Toru Hanai | Bloomberg via Getty Images

Mainland China markets popped on Tuesday afternoon while shares in the Asia-Pacific were mostly higher after seeing sharp falls on Monday.

The Shanghai Composite in mainland China rose 1.40% to 3,093.86 and the Shenzhen Component was 1.939% higher at 11,175.12. Data from Refinitiv Eikon showed healthcare, education and consumer non-cyclical stocks were rising.

Liquor-maker Kweichow Moutai added 1.34%, while Wuliangye, another manufacturer, jumped 5.38%.

The CSI 300 index, which tracks the largest mainland-listed stocks, was 1.45% higher at 3,892.30.

The Nikkei 225 in Japan rose 0.53% to 26,571.87, and the Topix index gained 0.47% to 1,873.01. In Australia, the S&P/ASX 200 added 0.41% to 6,496.20.

South Korea’s Kospi struggled for direction and closed 0.13% higher at 2,223.86, while the Kosdaq added 0.83% to 698.11. In Hong Kong, the Hang Seng index was flat in the final hour of trade.

MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.41%. China’s industrial profits for January to August fell 2.1% from the same period a year ago, official data showed.

Overnight in the U.S., major stock indexes dropped. The S&P 500 slipped 1.03% to 3,655.04, a new closing low for 2022. The Dow Jones Industrial Average fell into a bear market after it lost 329.60 points, or 1.11%, to 29,260.81. The Nasdaq Composite shed 0.6% to 10,802.92.

“The sell-off in bonds and equities continued as sterling’s weakness highlighted the fragility of markets to policy uncertainty,” ANZ Research analysts wrote in a Tuesday note, a day after the pound hit a record low.

— CNBC’s Sarah Min and Tanaya Macheel contributed to this report.

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