Asia stocks mixed after Wall St slips, China travel curbs

BEIJING (AP) — Asian stock markets were mixed Monday after Wall Street slipped and China tightened travel controls in some areas in response to coronavirus infections.

Shanghai, Hong Kong and Sydney advanced. Tokyo declined.

Wall Street’s S&P 500 index lost 0.1% on Friday, weighed down by losses for tech companies after a seven-day streak of gains.

The Chinese capital, Beijing, banned visitors from areas with infections in the past 14 days and Gansu province in the northwest closed tourist sites after coronavirus cases were found. China has reported a few dozen cases, but Beijing’s response of curbing travel prompted concern that might weigh on economic activity that already is weakening.

“One may expect aggressive measures to control virus spreads, which may put a cap on growth,” said Yeap Jun Rong of IG in a report.

The Shanghai Composite Index rose 0.3% to 3,593.51 while the Nikkei 225 in Tokyo lost 0.8% to 28,572.21. The Hang Seng in Hong Kong added less than 0.1% to 26,124.84.

The Kospi in Seoul advanced 0.6% to 3,022.89 and Sydney’s S&P-ASX 200 gained 0.3% to 7,441.00.

India's Sensex opened up 0.1% at 60,894.54. New Zealand, Singapore and Bangkok declined while Jakarta advanced.

On Wall Street, the S&P 500 ended at 4,544.90 on Friday after losses for big tech companies after a day of choppy trading.

The Dow Jones Industrial Average gained 0.2% to 35,677.02, exceeding its Aug. 15 high. The Nasdaq composite slid 0.8% to 15,090.20.

Some 65% of stocks in the S&P 500 closed higher, led mainly by financial and health care companies, but losses in communication and technology companies held the S&P 500 down. Chipmaker Intel slumped 11.7% after reporting disappointing revenue.

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