Asia stocks track Wall Street lower – Financial Times

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Asia Pacific equities slipped on Tuesday morning, with stocks in both Australia and Japan noticeably lower after a disappointing start to the week on Wall Street.

The S&P 500 closed 0.1 per cent lower on Monday to 2,436 from a record closing high on Friday.

Australia’s S&P/ASX 200 was down 1 per cent on Tuesday, with the materials and financial sectors both dropping more than 0.7 per cent.

Japan’s Topix index was down 0.6 per cent, though Toshiba and Kirin were among the best performing blue chips. Toshiba shares rose as much as 4.2 per cent amid reports it is considering giving US chipmaker Broadcom exclusive rights to buy its Nand chip unit. Brewer Kirin was up as much as 5 per cent amid higher analyst expectations for its investment in Myanmar Brewery as the country’s economy grows.

Hong Kong’s Hang Seng index was up 0.4 per cent as all sectors excluding energy rose. Shares in Chinese developer Evergrande jumped as much as 9.2 per cent on Tuesday to a record high after it announced plans to redeem all of its remaining perpetual bonds by the end of June.

China’s Shanghai Composite was flat while the Shenzhen Composite was up 0.3 per cent.