Extended weakness in Chinese shares, driven by worries over liquidity and earnings, put a brake on other Asian stock markets on Tuesday despite Wall Street stocks rallying into a fifth session.
Although Japan’s Nikkei share average held onto marginal gains and was up 0.3 percent, MSCI’s broadest index of Asia-Pacific shares outside Japan was almost flat, while trading not far from a six-month high hit earlier this month.
The China Enterprises Index of the leading offshore Chinese listings in Hong Kong fell 1 percent to its lowest in nearly four weeks. That subdued other Asian markets, forcing investors to look past the longest winning streak since October in the S&P 500 index.
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