Asian markets exhibit mixed trend on Tuesday

02 Jul 2024 Evaluate

Asian markets exhibited mixed trend on Tuesday, as investors cautiously awaiting Fed Chair Jerome Powell's comments and the release of key US economic data for more clarity on the Fed's interest rate trajectory. Meanwhile, data showed US manufacturing sector contracted for a third straight month in June and prices paid by manufacturers dropped to a six-month low, that fuelled bets that the Federal Reserve will start reducing interest rates in September. Chinese and Hong Kong shares rose after data showed the downturn in China's residential real estate sector slowed further in June, following the government’s efforts to put a floor under the housing market in some of its biggest cities. Japanese shares gained as the Japanese yen hit a new 37-year low against the US dollar.

Asian Indices	Last Trade	Change in Points	Change in %
Shanghai Composite	2,997.01	2.28	0.08
Hang Seng	17,769.14	50.53	0.28
Jakarta Composite	7,125.14	-14.49	-0.20
KLSE Composite	1,597.96	-0.24	-0.02
Nikkei 225	40,074.69	443.63	1.11
Straits Times	3,367.90	29.33	0.87
KOSPI Composite	2,780.86	-23.45	-0.84
Taiwan Weighted	22,879.37	-179.20	-0.78

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