Economic news

Asian shares mixed as caution prevails

Asian stocks mostly rose on Tuesday, partly shrugging off a broad selling to start the week and modest declines on Wall Street.

Photo: Reuters

Japan’s Nikkei closed up 1.2 percent, boosted by SoftBank Group and energy and steel sectors, amid extended worries over U.S. trade issues.

Chinese stocks slumped after fresh numbers factory-gate inflation had eased for a third month in a row in September amid weaker internal demand, reflecting more problems for the world’s second-largest economy.

The Shanghai Composite tumbled 0.9 percent, while the Shenzhen Composite dropped 1.9 percent. Hong Kong's Hang Seng Index inched 0.1 percent higher after sliding 1.4 percent in the previous session.

Australian stocks climbed 0.6 percent and South Korea’s Kospi was unchanged.

Caution still prevails on global markets amid fears about the economic growth, trade tensions and higher U.S. interest rates, as well as the Saudi incident, which shifted the focus of the investors to the Middle East.

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