Asian markets are exhibiting mixed trend in the early deals on Tuesday as investors watched the tit-for-tat exchanges between the US and China over trade. Trade concerns continued to linger ahead of the G-7 meeting later in the week. Meanwhile, China and Hong Kong stocks firmed after data showed China’s services sector expanded at a steady pace in May. The Caixin China services purchasing managers index remain unchanged at 52.9 in May from the previous month’s reading. A reading above 50 indicates an expansion in activity from the previous month, while a level below that points to a contraction. Among the other Asian markets, Japan, Indonesia, and Singapore are higher. On the other hand, Taiwan, Malaysia and South Korea are in negative territory.
Nikkei 225 added 28.48 points or 0.13% to 22,504.42, Shanghai Composite gained 7.15 points or 0.23% to 3,098.34, Hang Seng increased 48.56 points or 0.16% to 31,046.54, Jakarta Composite spurt 53.49 points or 0.89% to 6,068.31, and Straits Times up by 13.33 points or 0.38% to 3,480.81.
On the flip side, Taiwan Weighted declined 31.12 points or 0.28% to 11,078.38, FTSE Bursa Malaysia KLCI dropped 4.15 points or 0.24% to 1,751.02, and KOSPI Index down by 1.78 points or 0.07% to 2,445.98.
