Stocks trade higher after a negative start to the week

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

Toru Hanai | Bloomberg via Getty Images

Asia-Pacific stocks were mixed on Tuesday after sharp falls on Monday.

The Nikkei 225 in Japan rose 0.68% and the Topix index gained 0.8%. In Australia, the S&P/ASX 200 gained 0.23%.

South Korea’s Kospi struggled for direction and lost 0.39% last time out, while Kosdaq gained 0.08%.

In Hong Kong, the Hang Seng Index lost 0.17%, while the Shanghai Composite in mainland China rose 0.33% and the Shenzhen Component rose 0.317%.

MSCI’s broadest index of Asia-Pacific stocks outside Japan fell 0.13%. China’s January-August industrial profits fell 2.1% from the same period a year ago, official data showed.

Overnight in the United States, major stock market indices fell. The S&P 500 slid 1.03% to 3,655.04, a new closing low for 2022. The Dow Jones Industrial Average fell into a bear market after falling 329.60 points, or 1.11%, to 29,260.81. The Nasdaq Composite fell 0.6% to 10,802.92.

“Bond and equity selling continued as sterling weakness highlighted the fragility of markets in the face of political uncertainty,” analysts at ANZ Research wrote in a note. Tuesday, a day after the pound hit an all-time high.

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

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