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Homeasia marketsShanghai Comp outperforms as Beijing curbs short-selling

Shanghai Comp outperforms as Beijing curbs short-selling

Asian shares traded mixed on Tuesday, as a slightly calmed negative sentiment triggered by disappointing manufacturing data from the world's top two biggest economies.

In the U.S., the Institute for Supply Management's index of national factory activity missed expectations to come in at 52.7 in July, while the final reading for Caixin China purchasing managers' index (PMI) released on Monday stood at a two-month low of 47.8.

Meanwhile, policy decisions announced in Australia and India also kept investors on edge.

Wall Street ended lower overnight, as tumbling oil prices dragged down energy shares amid lackluster economic data. The slipped 0.5 percent, while the S&P 500 and the were about a quarter of a percent lower.

Shanghai Comp jumps 3.1%

China's Shanghai Composite index more than doubled gains in late-hour trading to chalk up the bourse's biggest daily gain since July 10, encouraged by news that authorities have stepped up their crackdown on short-selling of shares.

According to media reports, China's two main stock exchanges unveiled new rules that would make it even more difficult for speculators to profit from hourly gyrations in stock prices. Citic Securities, Huatai Securities and smaller rival China Great Wall Securitieshave announced that they will temporarily suspend their short-selling services.

Among gainers, heavyweight PetroChina climbed 1.7 percent following news that the oil and gas company won the dismissal of a U.S. class-action lawsuit arising from an alleged bribery scheme.

Hang Seng slips 0.1%

Hong Kong's index fell back slightly into negative territory late Tuesday.

Gaming shares were in focus after data showed gaming revenue in Macau fell 34.5 percent in July from the previous year, hovering around five-year lows. Sands China and Galaxy Entertainment nursed modest losses, but SJM Holdings gained 0.7 percent.

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