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 |
