Asian stock markets mixed at Tuesday's close

By Tuba Sahin

ANKARA (AA) - Major Asian stock markets closed Tuesday mixed amid worries over the policy direction of China's new leadership.

Xi Jinping was confirmed Sunday to continue as the head of the Communist Party of China in an unprecedented third term.

Xi, 69, is the first Chinese leader to hold the fort for the third time since the party was founded 100 years ago.

The Asia Dow, which includes blue-chip companies in the region, rose 0.38%, or 10.48 points, to 2,757.33.

Tokyo's Nikkei 225 stock exchange jumped 1.02%, or 275.38 points, to 27,250.

The Japanese yen was traded below 149 per US dollar, rebounding from a 32-year low of 151.94, but still under pressure due to a policy gap between the Bank of Japan and the US Federal Reserve.

The Hang Seng, the benchmark for blue-chip stocks trading on the Hong Kong stock exchange, lost 0.10% or 15.10 points to close at 15,165.59.

Hong Kong’s trade deficit widened to $44.9 billion in September, from $42.4 billion a year ago. Exports declined 9.1% year-on-year to $401.6 billion while imports dropped by 7.8% to $446.6 in the same period.

China's Shanghai Stock Exchange decreased slightly by 0.04%, or 1.27 points, to reach 2,976.28.

Chinese yuan extended its fall to near a 15-year low on Tuesday. The yuan traded in Shanghai finished the session at 7.3035 per US dollar, the lowest since December 2007. The offshore yuan slipped to 7.3655 per dollar, the record low level.

The Indian Sensex benchmark went down 0.54%, or 320.75 points, to end the day at 59,510.91 points, while the Singapore index gained 0.48%, or 14.20 points, to close at 2,984.

Singapore's annual consumer inflation rate remained constant at more than a 14-year high of 7.5% in September, meeting market estimates, according to the statistical office on Tuesday.