Investing.com – Asian stocks were mixed on Tuesday as fears over the fragile global economic recovery continued after weak U.S. manufacturing data and as the strong yen continued to weigh on the Nikkei.
Hong Kong's Hang Seng Index was up 0.09%; South Korea's Kospi Composite rose 0.67%; and Japan’s Nikkei 225 Index fell 0.38%.
The Kospi's gains came after advances in shipping, refinery and shipbuilding stocks supported the market.
On Monday, U.S. data showed that the New York State manufacturing index rose less-than-expected in August.
The yen remained close to a 15-year high against the U.S. dollar, pressuring Japanese exporters, amid reports that Japan's prime minister is expected to meet with the Bank of Japan's governor to discuss the matter early next week.
In Japan, auto-makers remained hard hit, with Toyota shares slipping 0.66%, and Nissan stocks down 1.0%. Meanwhile, shares in digital camera-makers Canon were down 0.28%.
The outlook for European equity markets, meanwhile, was upbeat: EURO STOXX 50 futures indicated a gain of 0.38%, France’s CAC 40 futures pointed to a rise of 0.45% and Germany's DAX futures indicated an advance of 0.29%.
Later in the day, both Germany and the euro zone were to release key data on economic sentiment while the European Central Bank was to publish data on the regions current account.
Hong Kong's Hang Seng Index was up 0.09%; South Korea's Kospi Composite rose 0.67%; and Japan’s Nikkei 225 Index fell 0.38%.
The Kospi's gains came after advances in shipping, refinery and shipbuilding stocks supported the market.
On Monday, U.S. data showed that the New York State manufacturing index rose less-than-expected in August.
The yen remained close to a 15-year high against the U.S. dollar, pressuring Japanese exporters, amid reports that Japan's prime minister is expected to meet with the Bank of Japan's governor to discuss the matter early next week.
In Japan, auto-makers remained hard hit, with Toyota shares slipping 0.66%, and Nissan stocks down 1.0%. Meanwhile, shares in digital camera-makers Canon were down 0.28%.
The outlook for European equity markets, meanwhile, was upbeat: EURO STOXX 50 futures indicated a gain of 0.38%, France’s CAC 40 futures pointed to a rise of 0.45% and Germany's DAX futures indicated an advance of 0.29%.
Later in the day, both Germany and the euro zone were to release key data on economic sentiment while the European Central Bank was to publish data on the regions current account.