Asia report: Markets mixed as oil prices slip

Markets in Asia finished in a mixed state on Tuesday, as investors pinned their hopes for a trade truce to talks about to begin between officials from Washington and Beijing.

In Japan, the Nikkei 225 was up 0.1% at 21,302.65, as the yen strengthened 0.04% against the dollar to last trade at JPY 110.58.

On the mainland, the Shanghai Composite eked out gains of 0.05% to 2,755.65, and the smaller, technology-heavy Shenzhen Composite grew 0.18% to 1,443.60.

South Korea’s Kospi was 0.24% lower at 2,205.63, while the Hang Seng Index in Hong Kong slid 0.42% to 28,228,13.

The benchmark in the special administrative region was dragged somewhat by Hong Kong-listed shares in HSBC, whose 2018 earnings disappointed after it missed market forecasts.

Oil prices were lower as the region went to bed, with Brent crude last down 1.1% at $65.78 per barrel, and West Texas Intermediate losing 1.1% to $55.45.

In Australia, the S&P/ASX 200 added 0.28% to close at 6,106.90.

Losses for health supplements manufacturer Blackmores weighed on Sydney’s bourse, with the firm’s shares sliding 24.85% after it downgraded its outlook for the second half.

Blackmores cited concerns around its sales in China as being behind its forecast.

Across the Tasman Sea, New Zealand’s S&P/NZX 50 slipped 0.2% to settle at 9,224.26, with specialist dairy exporter A2 Milk down 2.2%.

The company was swept up in the negative sentiment around the warning from Blackmores, given the majority of A2’s sales are into the People’s Republic.

A2 Milk is due to report first-half earnings on Wednesday.

Both of the down under dollars were weaker, with the Aussie last off 0.18% against the greenback at AUD 1.4050, and the Kiwi retreating 0.16% to NZD 1.4626.