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Asia Markets: Asian stocks beat a retreat; Nikkei fares the worst

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Reuters
Chinese Lunar New Year celebrations in in Liuzhou, Guangxi Zhuang Autonomous Region, China

Asian stocks were largely lower Tuesday, though Hong Kong equities rebounded from early weakness following the Lunar New Year holiday.

The Hang Seng Index HSI, -0.78% slipped 0.3%, after earlier dropping as much as 1.3% when big financial stocks, particularly China-based companies, experienced weakness. Index heavyweights Tencent 0700, -0.27% and HSBC HSBC, +0.15% each rose nearly 1%.

While stock trading might have only resumed Tuesday in Hong Kong’s market after the holiday, other Asian equities saw broad declines following wide gains Monday.

The drop came as European stocks pulled back overnight and S&P 500 futures ESH8, -0.45% were recently down 0.2% ahead of Tuesday’s start to a holiday-shortened week in the U.S.

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