Asian equity markets ended mostly in red on Tuesday following weaker economic data from China. Government data showed growth in industrial activity, credit, investment and housing sector activity decelerated in April. That added to indications growth in the world's second-largest economy peaked in the first quarter and is declining. Chinese leaders are tightening access to credit to reduce reliance on debt and investment but April's downturn was sharper than forecast. Further, the Washington Post reported that US President Donald Trump revealed ‘highly classified information’ about a planned Islamic State Operation to two top Russian officials last week, with lawmakers calling the alleged disclosures ‘inexcusable’ and ‘deeply disturbing.’ Though, Chinese shares reversed earlier losses to close notably higher as signs that the government is moving to ease liquidity conditions helped offset worries over slowing economic growth. Japanese shares ended a tad higher as oil continued to rally and the yen weakened against the dollar.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,112.96 | 22.74 | 0.74 |
Hang Seng | 25,335.94 | -35.65 | -0.14 |
Jakarta Composite | 5,647.00 | -41.87 | -0.74 |
KLSE Composite | 1,778.15 | -0.50 | -0.03 |
Nikkei 225 | 19,919.82 | 49.97 | 0.25 |
Straits Times | 3,227.71 | -36.50 | -1.12 |
KOSPI Composite | 2,295.33 | 4.68 | 0.20 |
Taiwan Weighted | 10,031.49 | -5.33 | -0.05 |