Asian markets settle mostly lower on Tuesday

20 Jun 2023 Evaluate

Asian markets settled mostly lower on Tuesday as investors were waiting for further cues from US Federal Reserve Chair Jerome Powell who will testify before Congress on Wednesday. Chinese shares declined as investors worried that the China’s latest interest rate cut would not be enough to boost confidence in the weakening economy. Meanwhile, a meeting between Chinese leader Xi Jinping and US Secretary of State Antony Blinken yielded no signs of progress from either side on various bilateral issues. However, shares of Japanese trading companies rose after US investor Warren Buffett increased holdings in its shares in Itochu, Marubeni, Mitsubishi, Mitsui and Sumitomo.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	3,240.36	-15.45	-0.48
Hang Seng	19,607.08	-305.81	-1.56
Jakarta Composite	6,660.46	-25.60	-0.38
KLSE Composite	1,388.33	1.00	0.07
Nikkei 225	33,388.91	18.49	0.06
Straits Times	3,220.23	-20.94	-0.65
KOSPI Composite	2,604.91	-4.59	-0.18
Taiwan Weighted	17,184.91	-89.65	-0.52

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