Japan stocks slipped Tuesday, snapping a five-session winning streak, as investors remained cautious ahead of the two-day U.S. Federal Reserve policy meeting.
Japanese markets returned from holiday, with the Nikkei 225 in Tokyo skidding 36.76 points, or 0.2%, to 15,911.53, with the yen moving flat at ¥107.13, compared with ¥107.10 a day earlier.
In Hong Kong, the Hang Seng Index plummeted another 220.98 points, or 0.9%, to 24,136.01, extending its losing streak to eight.
Policy makers at the Federal Open Market Committee were scheduled to kick off the September meeting on Tuesday and release the policy statement and economic projections at 2 p.m. on Wednesday.
Tech names were mixed, with Internet and telecoms conglomerate SoftBank Corp. rallying 3.5%. The gains came after Chinese e-commerce giant Alibaba Group, in which SoftBank owns a more than 30% stake, said it raised the price range for its upcoming U.S. IPO to $66 U.S. to $68 U.S. a share because of strong demand from investors.
Other market movers included IT service provider Fujitsu Ltd. advancing 1.9%, console maker Nintendo Co., Ltd. rising 1.5%, while semiconductor firm Renesas Electronic Corp. declined 2.1%, and electronics giant NEC Corp. fell 1.1%.
In Hong Kong, the morning session for markets was canceled due to rough weather caused by Typhoon Kalmaegi.
China’s largest wireless carrier China Mobile Ltd. tumbled 3.8% at the close, after reports said the release date for iPhone 6 in mainland China is still uncertain, possibly due to a delay in the issuance of a network access license by Chinese regulators. Its smaller rivals suffered even more, with China Telecom Corp. Ltd. sliding 4.9%, and China Unicom (Hong Kong) Ltd. falling 4.5%.
CHINA
Shanghai’s CSI 300 index dropped 48.42 points, or 2%, to 2,388.77
On the data front, China’s foreign direct investment fell in August to its lowest level in more than four years.
In other markets;
In Korea, the Kospi index poked higher 7.60 points, or 0.4%, to 2,042.92
The Taiex index in Taiwan plummeted 84.06 points, or 0.9%, to 9,133.40
In Singapore, the Straits Times STI Index slipped 39.85 points, or 1.2%, to 3,272.62
In New Zealand, the NZX 50 lost 21.08 points, or 0.4%, to 5,189.79
Australia’s S&P/ASX 200 ditched 28.10 points, or 0.5%, to 5,445.36
