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Asian markets mixed; Hang Seng flat, Nikkei slips

Asian markets were trading mixed on Tuesday. Nikkei was down 0.4 percent, while Seoul Composite was up 0.4 percent.

Asian equity markets were mixed on Tuesday as tensions over Ukraine took the shine off Wall Street’s overnight gains.

Focus was on Europe where Ukrainian president Petro Poroshenko is due to meet Russian leader Vladimir Putin in Belarus on Tuesday. The meeting comes after Poroshenko dissolved Ukraine’s parliament on Monday and announced that new parliamentary elections will take place on October.

Meanwhile, global markets rallied overnight with the S&P 500 crossing 2,000 for the first time on optimism that the European Central Bank (ECB) would pursue further moves to stimulate the European economy following Mario Draghi’s speech at Jackson Hole, Wyoming last week.

China’s Shanghai Composite was flat at 2,228.22. Hong Kong’s Hang Seng was flat at 25,168.92.

Japan’s Nikkei shed 0.40 percent or 62.02 points at 15,551.23. South Korea’s Seoul Composite was up 0.38 percent or 7.84 points at 2,068.73.

Singapore’s Straits Times was flat at 3,332.45. Taiwan’s Taiwan Weighted was flat at 9,397.21.

(with inputs from cnbc.com)

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