TOKYO (AP) — Stock prices in Asia were mixed Tuesday after U.S. markets closed for Memorial Day. Oil prices and US futures were higher.
Chinese markets rose after senior leaders of the ruling Communist Party met and reaffirmed Beijing’s determination to limit financial risks. Hong Kong’s benchmark was supported by gains for technology stocks.
European shares posted modest gains on Monday after markets were lifted by a recovery on Wall Street on Friday after the worst day since April.
Early Tuesday, the Nikkei 225 in Tokyo fell 0.3% to 38,795.07 and the Kospi in Seoul rose 0.1% to 2,726.82.
Australia’s S&P/ASX 200 lost 0.2% to 7,776.80.
The Shanghai Composite index rose 0.1% to 3,126.76. Hong Kong’s Hang Seng rose 0.8% to 18,982.31.
The Chinese government recently eased interest rates and down payment requirements for home loans as part of its efforts to revive the real estate sector after a crackdown on excessive lending led to defaults among many developers.
The housing sector plays a major role in driving the economy and its problems have weighed on growth.
Monday’s meetings led by Chinese President Xi Jinping “noted that preventing and defusing financial risks is a major challenge that must be overcome to achieve high-quality development, as it concerns national security, overall development and the security of the people’s property. the official Xinhua news agency reported.
Efforts to strengthen supervision “must be strictly implemented to send a strong signal that any violator will be held accountable, so that financial supervision will actually be ‘with teeth and thorns’ and sharp,” Xinhua said .
On Friday, the S&P 500 rose 0.7% and the Dow Jones Industrial Average rose less than 0.1%. The Nasdaq composite gained 1.1%, surpassing its all-time high set earlier last week.
In other trading Tuesday, benchmark U.S. crude oil gained $1.03 to $78.75 a barrel in electronic trading on the New York Mercantile Exchange.
Brent crude, the international standard, added 4 cents to $82.92 a barrel.
In currency transactions, the US dollar fell from 156.89 yen to 156.75 Japanese yen.
The euro rose from $1.0860 to $1.0874.
