MoneyWorks4Me

Asian markets settle mostly lower on Tuesday

12 Jul 2022 Evaluate
Asian markets settled mostly lower on Tuesday due to worries about global economic slowdown following fresh Covid-19 outbreak in China, while energy and cost-of-living crisis loomed over the eurozone economy. Further, markets also declined by tracking overnight fall in Wall Street as investors awaited corporate earnings, a slew of economic data and key inflation figures due this week that could influence the Federal Reserve's path for interest-rate increases. Seoul shares dropped ahead of the Bank of Korea's interest-rate decision slated for Wednesday. Chinese shares fell sharply as fears of new lockdowns in Shanghai undermined the broader China market, while a renewed regulatory offensive against big tech companies also sapped investor confidence.

Asian Indices

Last Trade               

Change in Points

Change in %

Shanghai Composite

3,281.47-32.11-0.97

Hang Seng

20,844.74-279.46-1.32

Jakarta Composite

6,718.29-3.86-0.06

KLSE Composite

1,426.080.290.02

Nikkei 225

26,336.66-475.64-1.77

Straits Times

3,145.7714.510.46

KOSPI Composite

2,317.76-22.51-0.96

Taiwan Weighted

13,950.62-389.91

-2.72

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