The Asian markets closed mostly in red on Tuesday, with Shanghai Composite dropping more than 6% as investors appeared to show a delayed reaction to news that China’s market regulator would allow market forces to play a greater role in determining stock prices. Chinese home prices rose in July for a third consecutive month, fuelled by improved sales and market sentiment, suggesting the property market is slowly recovering in a rare counterpoint to a growing list of grim economic indicators. Average new home prices rose 0.3 percent in July versus June slightly slower than June’s 0.4 percent rise. Even a mild recovery in one of the country’s key sectors would provide a valuable boost for an economy heading towards its weakest growth in 25 years. Property sales bottomed out during the first half of 2015 after declining for more than a year, propped up by a barrage of government support measures since last September, including a series of interest rate cuts and lower down payment requirements. Indonesia posted a surprisingly large trade surplus in July at $1.33 billion from a revised $528 million in June. Exports in July were $11.41 billion, down 19.23 percent from a year earlier, while imports were $10.08 billion, down 28.44 percent. Asian Indices Last Trade Change in Points Change in % Shanghai Composite 3,748.16 -245.50 -6.15 Hang Seng 23,474.97 -339.68 -1.43 Jakarta Composite 4,510.48 -74.91 -1.63 KLSE Composite 1,579.60 7.06 0.45 Nikkei 225 20,554.47 -65.79 -0.32 Straits Times 3,049.65 -17.70 -0.58 KOSPI Composite 1,956.26 -12.26 -0.62 Taiwan Weighted 8177.22 -36.20 -0.44