President Donald Trump disclosed municipal bond holdings worth $300 million to $1 billion, including debt tied to issuers affected by federal policy.

Mainland stocks closed slightly up on Tuesday after the country's cabinet pledged to step up counter-cyclical policy support to address rising economic strains, though trading remained thin ahead of the upcoming National Day Golden Week holiday. In Hong Kong, the benchmark Hang Seng Index fell 118 points, or 0.5 percent, to 24,523 on turnover of HK$184.63 billion. The tech index was 46 points, or 1.1 percent, down at 4,249 while the China enterprises index slipped 38 points, or 0.5 percent, to 8,178. Shares of fast-fashion platform Shein Global Holdings fell ⁠to their lowest level since the firm's debut on September 1. On the mainland, the benchmark Shanghai Composite Index rose six points, or 0.18 percent, to 3,830. The Shenzhen Component Index rose 43 points, or 0.34 percent, to 12,901 while the ChiNext Index inched two points, or 0.09 percent, higher to 3,142. The country's developers led gains onshore, with Vanke shares up 10 percent, after the State Council meeting vowed to roll out measures to stabilise the property market. "We expect policymakers to further broaden the use of housing provident funds to slightly reduce weighted-average mortgage rates, and more large cities to introduce local housing easing measures," analysts at Goldman ⁠Sachs said in a note. Sentiment among AI component makers rebounded slightly, with the 5G Communication Index up 0.7 percent and the tech-focused Star50 Index rising 0.9 percent. Rising US Treasury yields, coupled with insufficient liquidity ahead of the week-long holiday, weighed on the market sentiment, analysts at Northeast Securities said in a note. "However, after the sharp declines, with negative sentiment quickly running its course, quality assets have become more attractively valued again," the analysts said. The combined turnover on China's Shanghai and Shenzhen stock exchanges was just 1.41 trillion yuan, the lowest level since July 7, 2025. In Tokyo, the Nikkei 225 benchmark fell for a second straight session to end 396 points, or 0.6 percent, lower at 65,481. The broader Topix lost 70 points, or 1.72 percent, to 4,041. In Seoul, the Kospi too fell for a second consecutive day to close down almost 19 points, or 0.27 percent, at 6,870 after falling up to 1.6 percent earlier in the session. (Reuters/Xinhua) Edited by Tony Sabine