Chinese stocks recede, while other Asian markets resume gains


Asian stock markets largely started off with gains for the second day in a row early Wednesday, although Chinese indexes stumbled after Tuesday’s rally.

A day after near-3% bounces from multiyear lows, Chinese benchmarks were down slightly as the Trump administration confirmed it would impose 25% tariffs on $16 billion in Chinese imports later this month. The Shanghai Composite












SHCOMP, -1.27%










  was down 0.5% and the Shenzhen Composite












399106, -1.90%










  slipped 0.4%.

Hong Kong stocks eked out gains as a pair of notable IPOs launched. The Hang Seng Index












HSI, +0.39%










  was up 0.1%, with tech and energy stocks leading the gains. Tencent












0700, +1.96%










  was up 1.5% while PetroChina












0857, +3.23%










  gained 2.6%. Meanwhile, China Tower was sticking around its IPO price in initial trading while Nasdaq-listed biotech BeiGene was off 3.2% as its secondary offering started trading.

Financials and tech helped push Japan’s Nikkei












NIK, -0.08%










  to a 0.4% gain. SoftBank












9984, +4.78%










  was strong again, up 3.8% more amid word that it plans to invest in Alibaba’s enlarged delivery-services unit. Meanwhile, the financial-business subsection climbed nearly 2% in morning trading.

Elsewhere, South Korea’s Kospi












SEU, +0.06%










  inched up, as did benchmarks in Taiwan












Y9999, +0.84%










 , Australia












XJO, +0.23%










  and New Zealand












NZ50GR, -0.04%










 , while Singapore’s Strait Times Index












STI, -0.40%










  fell nearly 1%.

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