By Laura He, MarketWatch
HONG KONG (MarketWatch) -- Hong Kong stocks ended modestly
higher on Tuesday, marking their second day of gains and recovering
losses logged at the end of last week.
The Hang Seng Index dropped in early trading, but turned higher
for a 0.2% gain at 24,689.41. The index rebounded 1.3% on Monday,
after touching the lowest closing level in about two weeks at
24,331.41 on Friday.
Chinese PC maker Lenovo Group climbed 3.6%, after both J.P.
Morgan and Deutsche Bank raised their price targets for the stock.
Meanwhile, index heavyweight Tencent Holdings extended a three-day
winning streak, improving by 0.8%, as investors awaited the online
major's interim results, due out on Wednesday.
However, online card and board game developer Boyaa Interactive
International dived 8.4%, following an 11% surge in the previous
day. The Chinese firm said Tuesday net profit nearly doubled for
the first half of the year.
In Japan, the Nikkei Average edged up 0.2%, and the broader
Topix index rose 0.4%. The yen (USDJPY) slipped, trading at
Yen102.274 from Yen102.237 on Monday.
Elsewhere, Australia's S&P/ASX 200 advanced 1.3%, with
banking shares strong. Westpac Banking Corp. gained 1.9%,
Commonwealth Bank of Australia rose 1.6%, and National Australia
Bank zoomed 1.4% higher.
In other Asian markets, Seoul's Kospi Composite Index inched up
0.1%, while the Shanghai Composite Index dipped 0.1%.
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