Asian markets settled mostly lower on Tuesday, tracking losses in Wall Street overnight ahead of US Fed Chair Jerome Powell's comments on inflation and the rate outlook at the upcoming annual Jackson Hole economic symposium. Further, surging natural gas prices in Europe stoked global recession fears and added pressure on market sentiments. Japanese shares declined after a PMI survey showed Japan’s manufacturing activity growth slowed to a 19-month low, as new orders continue to decline. Chinese shares dropped amid rising Covid-19 cases and extended power curbs in China, while investors fretted that recent support measures were not sufficient to prop up its beleaguered real-estate market.
Asian Indices | Last Trade | Change in Points | Change in % |
Shanghai Composite | 3,276.22 | -1.57 | -0.05 |
Hang Seng | 19,503.25 | -153.73 | -0.78 |
Jakarta Composite | 7,163.26 | 55.28 | 0.78 |
KLSE Composite | 1,482.57 | -4.80 | -0.32 |
Nikkei 225 | 28,452.75 | -341.75 | -1.19 |
Straits Times | 3,246.21 | -16.36 | -0.50 |
KOSPI Composite | 2,435.34 | -27.16 | -1.10 |
Taiwan Weighted | 15,095.89 | -149.25 | -0.98 |
