Investing.com - Asian shares traded mixed on Tuesday with Tokyo recovering after the U.S. showed a muted reaction to President Donald Trump's failure to repeal and replace Obamacare.
Japan's Nikkei 225 rose 1.07%, recovering from a sharp decline overnight as Fujitsu and Lenovo Group announced the postponement of their target date for a final deal on their personal computer business tie-up. Shares of Fujitsu rose 2.70%t and the Hong Kong-listed Lenovo was up 1.23%.
In Australia, the S&P/ASX 200 gained 1.15%. But retail firm Myer dropped 4.00% after rallying about 18% on Monday amid speculation that a takeover bid was on the cards.
The Shanghai composite eased 0.26%, while Hong Kong's Hang Seng index was up 0.49%.
In Hong Kong , Guotai Junan Securities will kick off its IPO subscription. It plans to raise HK$16.04 billion ($2.1 billion), and has priced the IPO already, at HK$15.84 per share.
Overnight, U.S. stocks closed mostly lower on Monday, as investors mulled over President Trump’s ability to push through key proposals, which include tax reform, after the healthcare bill was dropped on Friday.
In what was quiet day on the economic calendar, the U.S. House of Representatives’ decision to withdraw a healthcare bill to repeal and replace Obamacare on Friday remained front and center.
Investors eased off the ‘Trumpflation trade’, which had pushed U.S equities to all-time highs in February, based on Trump’s promise to introduce pro-growth policies, as worries mounted that the healthcare bill setback could weigh on the success of Trump’s pro-growth policies being passed.
Hospital stocks offered investors some respite, as the proposed healthcare bill to replace Obamacare was viewed as a threat to hospitals and physicians, as it would have significantly reduce the number of Americans with health insurance.
Meanwhile, President Trump moved on from the setback as he rolled back more Obama-era regulations, after signing four bills that reverse rules on education, land use and federal purchasing.
The Dow Jones Industrial Average closed 0.22% lower at 20,550. The S&P 500 shed 0.10% and the Nasdaq Composite closed higher at 5840.37. The Dow closed lower for an eighth-straight session.