Asian markets after making a positive start are now trading in the red zone. It could only make limited gains as investors feared about global slowdown and paused for the result of Chinese data which will be released later in the day that could finally decide the course of the market. Nikkei climbed up slightly high on Tuesday after making large losses a day before.
Hang Seng and Shanghai Composite fell to their biggest drop in five weeks due to result of inflation data which worried the investors that the consumer demand in China is slowing down. After releasing trade data in June, the Asia’s largest economy is again about to release second quarter gross domestic product report which is expected to be much worse in three years.
Shanghai Composite slumped 7.88 points or 0.36% to 22162.93, Hang Seng index fell 58.66 points or 0.30% to 19369.43. Jakarta Composite slide 3.75 point or 0.09% to 3981.26, Nikkei dipped 23.02 points or 0.26% to 8875.24. Kospi Composite lost 9.85 points or 0.54% to 1826.40. Taiwan Weighted Index slumped 67.69 points or 0.93% to 7242.94.
On the other hand KLSE Composite climbed 1.95 points or 0.12% to 1622.69. Straight Times was up by 10.21 points or 0.34% to 2939.03.