Chinese stocks fell on Tuesday ahead of earnings reports from some of the biggest banks in the country, while most other Asian markets were mixed as concerns over a hawkish U.S. Federal Reserve persisted. The Hang Seng index of major tech stocks in Hong Kong fell 1.55 percent on Tuesday, making it the worst performer in Asia. Shares of Ali Baba, Baidu, and Tencent fell between 1.2 and 2 percent. Tencent is set to report earnings later today.
China’s blue-chip Shanghai Shenzhen CSI 300 index fell 0.6 percent, while the Shanghai Composite index lost a similar amount.
Following the poor performance of Wall Street stocks, the performance of other Asian markets was mixed. On Monday, US stocks finished lower as losses in major tech stocks outweighed gains in other sectors.
Japanese stocks, on the other hand, rose 1.5 percent, recouping Monday’s losses. This followed the release of the unemployment rate, which remained at 2.6 percent in July.
