Asian markets ended mostly lower on Tuesday as investors fretted about the impact of rising interest rates, US-China tensions and Italy's decision to expand budget deficits. The trade war between China and the United States may intensify after China allowed its currency to slip past a psychological bulwark. The International Monetary Fund has lowered its forecast for Chinese economic growth in 2019 to 6.2 percent from 6.4 percent, citing the ‘negative effect of recent tariff actions’. Japanese shares ended lower as a firm yen added to investors’ worries over China and rising US bond yields. Though, Chinese shares finished modestly higher amid bets that policymakers will increase policy support to counter the negative impact of an escalating trade war on Chinese exporters. Meanwhile, the South Korean markets were closed for a public holiday.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,721.02 | 4.51 | 0.17 |
Hang Seng | 26,172.91 | -29.66 | -0.11 |
Jakarta Composite | 5,796.79 | 35.72 | 0.62 |
KLSE Composite | 1,774.15 | -1.60 | -0.09 |
Nikkei 225 | 23,469.39 | -314.33 | -1.34 |
Straits Times | 3,163.22 | -18.23 | -0.58 |
KOSPI Composite | - | - | - |
Taiwan Weighted | 10,466.83 | 10.90 | 0.10 |
