Asia-Pacific Shares Fall With China Internet Shares Dropping As Chinese Regulatory Worries Reappear

Asia-Pacific Shares Fall With China Internet Shares Dropping As Chinese Regulatory Worries Reappear

Asia-Pacific shares fall with China internet shares dropping as Chinese regulatory worries reappear. Stocks in Asia-Pacific were mostly down in Tuesday trade after Chinese internet stocks in Hong Kong slipped.

In Hong Kong, shares of Tencent tumbled 3.7%, Alibaba slipped 2.77% and JD.com dropped 3.26%. The Hang Seng Tech index dropped 1.15%.

The losses came after China market regulator issued draft guidelines on Tuesday preventing unfair competition on the internet.

The Hang Seng index in Hong Kong also tumbled 0.68%.

Mainland Chinese stocks were also down, with the Shanghai Composite falling 0.48% while the Shenzhen component slipped 0.466% lower.

Japan’s Nikkei 225 jumped 0.1% while the Topix index sat lower. Kospi in South Korea

In Japan, the Nikkei 225 gained 0.1% while the Topix index was slightly lower. South Korea’s Kospi declined 0.79%.

The S&P/ASX 200 in Australia dropped 1.04%.

MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.88%.

The Dow Jones Industrial Average gained 110.02 points to 35,625.40, the S&P 500 jumped 0.26% to 4,479.71, while the Nasdaq Composite slipped 0.2% to 14,793.76.

Investors await U.S. retail sales data, set to be released Tuesday.  Economists surveyed by Dow Jones expects a 0.3% decline for last month.

Oil prices were also jumped during afternoon Asia trading hours, with international benchmark Brent crude futures gaining around $69.55 per barrel. U.S. crude futures jumped around 0.1% to $67.35 per barrel.

The Japanese yen changed at 109.33 per dollar. The Australian dollar traded at $0.7308 after yesterday’s decline from above $0.735.