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Asian markets settle mostly higher on Tuesday

05 Jul 2022 Evaluate

Asian markets settled mostly higher on Tuesday after reports that the United States may decide to cut some tariffs on Chinese imports in an effort to tame record-high inflation. Market sentiments improved further after report that China's services activity jumped to 54.5 -- the highest level in nearly a year in June against expected figure of 49.7, while Japan's services activity expanded at the fastest pace in over 8 years in June, that eased concerns about slowing global growth. Japanese shares gained sharply by tracking declines in US yields. However, Chinese shares declined as flare-up in Covid-19 cases rekindled fears of further lockdowns in the world’s second-largest economy.

Asian Indices

Last Trade           

Change in Points

Change in %

Shanghai Composite

3,404.03

-1.40

-0.04

Hang Seng

21,853.07

22.72

0.10

Jakarta Composite

6,703.27

64.10

0.97

KLSE Composite

1,440.81

3.29

0.23

Nikkei 225

26,423.47
269.66

1.03

Straits Times

3,104.11
-16.13

-0.52

KOSPI Composite

2,341.78
41.44

1.80

Taiwan Weighted

14,349.20
132.14

0.93

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