Tuesday Asian stocks mixed amid rising oil prices, Chinese real estate debt issues

Tuesday Asian stocks mixed amid rising oil prices, Chinese real estate debt issues

Tokyo's Nikkei 225 posts decline of 2.19%, Hong Kong's Hang Seng index goes up 0.28%

By Tuba Sahin

ANKARA (AA) - Major stock markets in Asia closed mixed on Tuesday amid liquidity problems in China's real estate sector and rising oil prices fueling inflation concerns.

Oil prices climbed to record highs on Tuesday, extending gains from the previous session after OPEC+ countries said they would not pump out more oil despite rising crude demand boosted by the record-high natural gas prices.

After closing Monday at $81.26 a barrel, international benchmark Brent crude was trading at $81.49 per barrel at 0652GMT for a 0.28% increase -- its highest level since October 2018.

While developments at troubled Chinese real estate developer Evergrande continues to unfold, another developer, Fantasia Holdings, missed a debt payment deadline on Monday.

The Asia Dow, which includes blue-chip companies in the region, was down by 24.7 points, or 0.65%, to 3,770 at 0932GMT.

Tokyo's Nikkei 225 slipped 622.8 points, or 2.19%, to 27,822.

Japan's purchasing managers' index (PMI) in the services sector hit 47.8 in September, according to data from the au Jibun Bank Japan Services PMI compiled by London-based global data firm IHS Markit on Tuesday.

Despite reaching its highest level since June, the figure was below the threshold level of 50, signaling a sustained but significantly softer contraction in services sector activity.

Tokyo core inflation was at 0.1% in September, while it was minus 0.3% a month ago.

The Hang Seng, the benchmark for blue-chip stocks trading on the Hong Kong stock exchange, rose by 67.8 points, or 0.28%, to 24,104.

The Singapore index fell 22.8 points, or by 0.74%, to 3,067, and the Indian Sensex benchmark gained 435.3, or 0.73%, to 59,735.

Chinese markets are closed for a week on account of the Golden Week holiday until Friday.

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