Chinese stocks turned mixed on Tuesday as mainland markets reversed their losses but lower oil prices still weighed on regional resource firms.
Traders paid attention to Chinese industrial profits data for hints on the chances of further monetary stimulus following Beijing’s interest rate cut on Friday. Profits slipped 0.1 percent on year in September, from an 8.8 percent tumble in the previous month, but despite the monthly improvement, economists were pessimistic.
China’s major averages erased losses in the last hour of trade, with theShanghai Composite, Shenzhen Composite and Chinext all in positive territory after sliding as much as 2-3 percent earlier. In Hong Kong, the Hang Seng Index was flat, dragged down by gaming stocks.