Asian markets ended mostly lower on Tuesday in cautious trade as worries about rising trade tensions and impact on global economic growth sapped risk appetite. Tech stocks in Asia followed their US counterparts lower as news of an antitrust probe into big tech companies stoked concerns about the sector. St. Louis Fed President James Bullard said that interest rates may have to be cut soon because of low inflation and the trade war’s threat to the economy. Some forecasters now expect as many as two rate cuts by the end of the year. Seoul shares ended lower as weak GDP data and rising trade tensions dented investor sentiment. Meanwhile, Japanese shares closed flat with a negative bias in choppy trade amid worries about global economic growth and on a stronger safe-haven yen. The Indonesia market is closed all week in observance of Eid-ul-Fitr.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 2,862.28 | -27.80 | -0.96 |
Hang Seng | 26,761.52 | -132.34 | -0.49 |
Jakarta Composite | - | - | - |
KLSE Composite | 1,644.09 | -11.22 | -0.68 |
Nikkei 225 | 20,408.54 | -2.34 | -0.01 |
Straits Times | 3,142.37 | 18.91 | 0.61 |
KOSPI Composite | 2,066.97 | -0.88 | -0.04 |
Taiwan Weighted | 10,429.12 | -70.95 | -0.68 |
