Hong Kong stocks up more than 4% as tech stocks rise; China’s activity data disappoints

CNBC – UPDATED TUE, NOV 15 20223:14 AM EST

Shares in the Asia-Pacific were mostly higher on Tuesday following the meeting between its president Xi Jinping and U.S. President Joe Biden.

Hong Kong’s Hang Seng index was 4.11% higher, closing at 18,343.12, lifted by the Hang Seng Tech index that climbed 7.3%.

In mainland China, the Shanghai Composite advanced 1.64% to 3,134.08, while the Shenzhen Component also gained 2.14% to 11,351.33 as the country’s industrial production and retail sales data fell short of expectations.

In Australia, the S&P/ASX 200 slipped 0.07% to 7,141.60. South Korea’s Kospi added 0.23% to 2,480.33 and the Nikkei 225 in Japan rose 0.1% to 27.990.17 as the nation’s economy unexpectedly contracted in the third quarter, official data showed.

Major U.S. stock indexes closed lower overnight following a choppy session, with the Dow Jones Industrial Average slipping 211.16 points, or 0.6%, to 33,536.70. The S&P 500 shed 0.89% to 3,957.25, and the tech-heavy Nasdaq Composite lost 1.12% to 11,196.22.

— CNBC’s Tanaya Macheel and Yun Li contributed to this report.