America News Agency

While mainland China’s CSI 300 skyrocketed over 10 percent at the open Tuesday in its return from the Golden Week holiday, the index pared gains to a 5 percent rise later in the session.

Hong Kong’s Hang Seng index briefly plummeted over 10 percent before recovering slightly to a more minor loss of 6.4 percent. Other Asia-Pacific markets mostly fell on Tuesday, with investors watching August pay and spending data from Japan.

The drop is the fastest decline since January when the annual rate fell 6.3 percent. That decline also came before spring wage negotiations delivered the most significant pay hikes to unionised Japanese workers in 33 years.

However, real wages rose in August, with data from the country’s statistics bureau indicating that wages climbed 2 percent to an average of 574,334 yen ($3,877.44). The benchmark Nikkei 225 slipped 0.99 percent after the release, while the Topix was down 1.06 percent.

South Korea’s Kospi was 0.72 percent lower, dragged by shares of heavyweight Samsung Electronics after it released worse-than-expected third-quarter guidance. The small-cap Kosdaq was down 0.31 percent. Australia’s S&P/ASX 200 slipped marginally.

Overnight in the U.S., stocks slid as rising oil prices and higher Treasury yields weighed on market sentiment. The Dow Jones Industrial Average dropped 0.94 percent, while the S&P 500 slid 0.96 percent. The Nasdaq Composite saw the largest loss, falling 1.18 percent.

The benchmark 10-year Treasury yield rose to 4.02 percent, marking the first time since August that the yield topped 4 percent. Oil prices also rose as tensions in the Middle East remain high. U.S. crude climbed over 3 percent to settle above $77 per barrel.