This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Mixed Day in Asia

HONG KONG -- Asian markets continued to trade in uncertain territory on Tuesday, as major indices reversed early trading patterns in the afternoon session to end mixed.

After beginning the day in the green, China's Shanghai Composite Index shed 7 points, or 0.1%, to 5386, while the Hang Seng followed, losing 67 points, or 0.25%, to end at 27,112. India also fell slightly from a strong start in the morning, dipping 29 points, or 0.14%, to 20,783, giving away an all-time high reached Monday.

Japan's Nikkei hit an 18-month low intraday, but it overcame losses and finished up 28 points, or 0.2%, at 14,528, halting a two-session, 5.3% selloff. The yen eased slightly against the dollar to 109.64 from 109.44 previously.

"There are two opposing forces tugging at the market right now: the Chinese market and what's happening in the U.S.," says Pauline Dan, who runs $2.5 billion at MFC Global Investment Management in Hong Kong. "It's a very stock-specific market, and there is increasing volatility because of these two forces."

Volume on the Hang Seng was up slightly, at HK$114.9 billion, or $14.6 billion. Leading the end-of-day declines were property stocks, which succumbed to profit-taking after heavy speculation locally that the Federal Reserve will cut interest rates by 50 basis points this month.

Conglomerates Hutchison (HUWHY) and Swire Pacific (SWRAY) fell the most, by 3.3% to HK$88.10 and by 3% to HK$108.40, respectively. Cheung Kong (CHEUY) followed, slipping 3% to HK$142.6. Hang Lung Properties (HLPPY) slid 2.8% to HK$33.20.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,416.85 +225.48 1.31%
S&P 500 2,021.25 +19.09 0.95%
NASDAQ 4,683.4070 +45.4130 0.98%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs