Asian markets mixed after U.S. stocks take dip

Chinese stocks gained traction Tuesday as U.S. stocks pulled back after suffering energy stock losses.

U.S. stocks took a tumble after weeks of gains which were driven by a better-than-expected start to second quarter earnings resulting in record highs. Energy stocks experienced more of a drop than others, though analysts said the sale was mild and expected due to the run-up in prices this past month as the peak of the U.S. summer driving season continues.

Not all was rosy for all Asian markets. Hong Kong’s Hang Seng index gained 0.9% to 22,192.01, while the Shanghai Composite Index rose 0.4% to 3,029.51. Tokyo's Nikkei 225 fell 1.5% to 16,364.51 as Sydney's S&P-ASX sunk 0.3% to 5,517.20.

The U.S. dollar declined to 104.41 yen from Monday’s 105.70, while the euro experienced a bump to $1.0996 from $1.0994.

Contributing: Adam Shell and Associated Press