Asian markets closed mostly in green on Tuesday. But investors moved cautiously as the recent global rally lost steam, while trade tensions returned and markets look ahead to the release of crucial US inflation data. A strong jobs report on Friday and Donald Trump's decision to meet Kim Jong-un helped fuel a surge in global equities at the end of last week, overshadowing US tariffs and fears of a trade war. But concerns returned following comments from a European trade commissioner that the EU would ‘stand up to bullies’ while Trump said he will look into cutting levies the bloc imposes on US goods. Attention is now on the inflation release later in the day, which will be pored over for an idea about the Federal Reserve's timetable for hiking interest rates. A strong reading could hit markets worried about the impact of higher borrowing costs on the investment environment. Japanese shares ended higher as a softer yen helped lift exporters, offsetting weakness in steelmakers and automakers. Though, Chinese shares ended lower to snap a three-day winning streak after the country unveiled a massive cabinet reshuffle plan, including the merger of its banking and insurance regulators to better handle financial risks.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,310.24 | -16.46 | -0.49 |
Hang Seng | 31,601.45 | 7.12 | 0.02 |
Jakarta Composite | 6,412.85 | -87.84 | -1.35 |
KLSE Composite | 1,864.03 | 2.81 | 0.15 |
Nikkei 225 | 21,968.10 | 144.07 | 0.66 |
Straits Times | 3,553.73 | 13.54 | 0.38 |
KOSPI Composite | 2,494.49 | 10.37 | 0.42 |
Taiwan Weighted | 11,095.63 | 93.53 | 0.85 |
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