Asia report: Markets mixed after weak China data

Asian markets were mixed on Tuesday following the release of weak producer price data from China.

Figures from China's National Bureau of Statistics showed the largest contraction in factory gate prices in three years, with prices dropping by 0.8% compared to a year earlier in August, and falling for the second successive month.

Analysts from Pantheon Macroeconomics said: "Electrical equipment and machinery and communications, alongside autos and paper-making accounted for most of the drag. Oil remains continues to subtract from the headline, both directly, and through its impact on chemicals production."

Meanwhile, both the Federal Reserve and the ECB are expected to announce monetary stimulus moves, with markets remaining subdued as the nature of these packages remains unclear.

Japan's Nikkei 225 ended the session 0.35% higher at 21,392.10, with Nissan driving the index higher after the car manufacturer's chief executive, Hiroto Saikawa, quit following pressure involving an executive pay scandal.

SoftBank shares increased by 1.77% as it urged its investee company WeWork not to pursue an IPO, amid concerns about its valuation.

Meanwhile, the Japanese yen was down 0.07% against the US dollar at JPY107.32.

On the Chinese mainland, the Shanghai Composite edged down 0.12% to 3,021.20 and the tech-heavy Shenzhen Composite was 0.11% lower at 1,687.31 on the back of the weak Chinese data.

China National Software & Service Co, Guangdong Ellington Electronics Technology Co and Hefei Metalforming Intelligent Manufacturing Co led the indices lower as they each dropped by more than 5%.

Hong Kong's Hang Seng Index remained flat at 26,683.68 as city chief executive Carrie Lam warned demonstrators that escalating violence would not solve problems in the administrative region.

The South Korean Kospi climbed by 0.62% to 2,032.08, rising for the fifth consecutive session as construction firms with exposure to North Korea surged after Pyongyang said it would be willing to restart talks with Washington.

Index bellwether Samsung Electronics was up by 0.26% but heavyweight chipmaker SK Hynix dropped by 1.42%.

Brent Crude was 0.27% firmer at $62.76 a barrel, while West Texas Intermediate rose by 0.36% to $58.06.

Down under, the Australian S&P/ASX 200 fell by 0.51% to 6,614.06 as healthcare stocks fell, with both CSL and Sonic Health trading ex-dividend.

New Zealand's S&P/NZX 50 dropped by 0.54% to 11,142.58 as power companies lost their lustre, having recently reached record levels due to reliable dividend payments.

Contact Energy, Genesis Energy, Meridian Energy and Mercury NZ were all between 1% and 2% lower.

Finally, the Australian dollar inched 0.05% lower against the US dollar to A$1.46, while New Zealand's dollar dipped by 0.06% against the greenback to NZ$1.56.