By Laura He, MarketWatch
HONG KONG (MarketWatch) -- Hong Kong stocks continued their
recovery on Tuesday, rising for a third straight session, as
sentiment improved since pro-democracy protesters in the territory
continued to shrink in number.
Several primary schools on Hong Kong Island resumed classes on
Tuesday, while only six branches of six banks in the affected areas
remained temporarily closed, according to separate statements by
the Hong Kong government and the region's monetary authority.
The benchmark Hang Seng Index closed up 0.5%, as banks and
property developers with strong exposure to the territory were
mixed.
Chong Hing Bank Ltd. jumped 4.5%, Standard Chartered PLC climbed
2.4%, both Hang Seng Bank Ltd. and Dah Sing Banking Group Ltd. rose
1.4%, developer New World Development Co. Ltd. improved by 1.3%,
Cheung Kong Holdings Ltd. moved up 1.1%, and Sun Hung Kai
Properties Ltd. traded 0.9% higher.
However, Sino-British banking giant HSBC Holdings PLC dipped
0.1%, and Henderson Land Development Co. edged down 0.2%.
Most Hong Kong retailers rebounded further, with jeweler Luk
Fook Holdings International Ltd. advancing 2.5%, rival Chow Sang
Sang Holdings International Ltd. rising 0.5%, and clothing retailer
IT Ltd. adding 0.8%.
Casino stocks were mixed after solid gains in the previous day.
Both MGM China Holdings Ltd. and SJM Holdings Ltd. dropped 0.9%,
while Sands China Ltd. rose 0.7%.
Stock in Fosun International Ltd. headed up 1.2%, after French
travel company Club Méditerrané said its board supported an
improved takeover bid by a group of investors led by Fosun.
In Japan, the Nikkei Average finished down 0.7%, with the dollar
(USDJPY) falling to Yen108.54 from Yen108.83 a day ago. The broader
Topix index dropped 0.4%.
On Tuesday, the Bank of Japan left its policy unchanged as
widely expected, with the central bank's governor Haruhiko Kuroda
saying Japan remained on track to reach its goal of sustained 2%
consumer inflation.
Elsewhere, Sydney's S&P/ASX 200 slipped 0.2%, while Seoul's
Kospi Composite Index edged 0.2% higher.
On the Chinese mainland, markets were still closed for the
National Day holidays but were due to reopen Wednesday.
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