Asian markets conclude Tuesday’s trade mostly in red

The Asian markets concluded Tuesday’s trade mostly in red, after the regional equity index yesterday climbed to the highest level this year. Jakarta Stock Exchange was closed today on account of ‘Isra Mi'raj of the prophet Muhammad SAW’ holiday. New home sales in Shanghai remained below the 200,000-square-meter threshold for the seventh consecutive week in a local market still beset by sluggish momentum. Purchases of new homes in the seven days ended, excluding government-funded affordable housing, shed 1% to 149,000 square meters. The average cost of new homes rose 13 percent from the prior week to 29,205 yuan ($4,677) per square meter. Hong Kong Trade Balance fell to a seasonally adjusted -55.3B, from -50.4B in the preceding month. Japan’s CSPI rose to a seasonally adjusted annual rate of 3.4%, from 0.7% in the preceding month. South Korean Consumer Confidence fell to 105, from 108 in the preceding month.