China Falls as Trade Data Disappoints

China stocks fell Tuesday even as broader Asia-Pacific markets rose following gains on Wall Street that saw the Dow Jones Industrial Average and the S&P 500 reach new record highs.

In Japan, the Nikkei 225 index jumped 304.75 points, or 0.8%, to 39,910.55.

Tokyo Metro raised 348.6 billion yen ($2.3 billion U.S.) in Japan’s largest initial public offering in six years after pricing its IPO at the top of its range at 1,200 yen ($8.04) apiece, according to a regulatory filing.

Two sources familiar with the matter told Reuters that the IPO was more than 15 times oversubscribed. The stock is expected to list on the Tokyo Stock Exchange on Oct. 23.

In Hong Kong, the Hang Seng Index tumbled 774.08 points, or 3.7%, to 20,318.79.

Shares of Chinese electric-vehicle makers plunged amid a broad selloff in Hong Kong on Tuesday.

Geely Automobile and Li Auto were among the top losers in the Hang Seng Index, falling as much as 6.6% and 6.3%.

Nio Inc saw its shares drop as much as 9%. Chinese EV makers Xpeng fell 6% and BYD doffed more than and 5%.

Revised trade data out of South Korea showed trade surplus at $6.7 billion U.S. in September — same as preliminary data — up from $3.7 billion in August.

CHINA

In Shanghai, the CSI 300 dived 105.35 points, or 2.7%, to 3,855.99.

China had posted disappointing September trade data after markets closed Monday, with exports rising 2.4% from a year ago

In other markets

In Taiwan, the Taiex gained 316.75 points, or 1.4%, to 23292.04

In Korea, the Kospi index picked up 10.16 points, or 0.4%, to 2,633.45.

In Singapore, the Straits Times Index docked 0.44 points to 3,595.47.

In New Zealand, the NZX 50 climbed 74.02 points, or 0.6%, to 12,840.77

In Australia, the ASX 200 added 65.56 points, or 0.8%, to 8,318.37.