Hong Kong stocks tumble 2%, dragged by property and tech; Asia markets mixed

Perth, Australia

Brendon Thorne | Bloomberg | Getty Images

Asia-Pacific markets were mixed as Hong Kong stocks led losses in the region, tumbling by 2% — dragged by real estate and technology stocks.

Mainland Chinese markets were also in negative territory, with the Shanghai Composite down 0.37% to end at 3,197.82 and the Shenzhen Component falling 0.34% to 10,972.96. Both indexes recorded a second straight day of losses.

In Australia, the S&P/ASX 200 was 0.2% down and closed at 7,283.8 for a second straight day of losses, as investors digest minutes from the Reserve Bank of Australia’s July meeting.

The Nikkei 225 climbed 0.32% to end at 32,493.89 and the Topix rose 0.59% to 2,252.28. Japanese investors are bracing for key economic data later this week, including its trade balance and consumer price index figures for June.

South Korea’s Kospi slipped 0.43% to close at 2,607.62, but the Kosdaq finished up 1.76% at 914.14, its highest level in over 15 months.

This comes as the country holds its first Nuclear Consultative Group meeting with the U.S. today, which will “discuss information sharing, consultation mechanism and joint planning and execution designed to bolster nuclear deterrence against North Korea.” Yonhap reported, citing South Korea’s presidential office.

Overnight in the U.S., all three major indexes climbed as investors braced for the second quarter earnings season.

The Dow Jones Industrial Average added 0.22% to reach its highest closing level in 2023, while the S&P 500 climbed 0.39%, while the Nasdaq Composite saw the largest gain 0.93%.

— CNBC’s Brian Evans and Samantha Subin contributed to this report

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