Shares mixed

    0
    150

    HONG KONG- Asia’s share markets were mixed and the dollar held steady on Tuesday, with investors awaiting US inflation data for more clues on when the Federal Reserve will taper stimulus.

    China’s tightening grip on its technology companies and a widening liquidity crisis for the country’s most indebted developer continued to keep investors on edge in early trade.

    MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.13 percent.

    Australia’s S&P/ASX200 fell 0.31 percent to 7,400.8, while Hong Kong’s Hang Seng Index dipped into negative territory.

    China’s blue-chip CSI300 index was down 0.2 percent and Tokyo’s Nikkei traded 0.72 percent higher.

    In Hong Kong, shares of developer China Evergrande Group slumped after revealing it had appointed financial advisers to examine its capital structure.

    The company also said sales would fall again in August due to concerns over its debt which would hurt its liquidity and cash flow. Its shares dropped 7 percent.

    China’s technology stocks are also being closely scrutinized after authorities told the country’s tech giants to stop blocking each other’s links on their sites.

    The directive was the latest in a string of tightening regulations that has dragged down the Hang Seng Tech Index by nearly 40 percent since its peak this year in February.

    “We are still concerned about the regulations, what they mean and how they will be rolled, but with the correction that is underway, that means there is some value in certain parts of the Chinese equities market,” Luke Moore, Oreana Financial Services chief executive, told Reuters.

    “We don’t see an end in sight to the changes yet, we think the uncertainty is going to continue and everyone is looking for clarity on how far the regulations will go and what could be next.”