Asian markets conclude Tuesday’s trade mostly in green

The Asian markets concluded Tuesday’s trade mostly in green, with the benchmark index poised for a seven-month high, as concern eased about a slowdown in the world’s second-largest economy. China’s non-manufacturing purchasing managers’ index rose to 55.5 in May from 54.8 in April, according to data released by the Beijing-based National Bureau of Statistics and the China Federation of Logistics and Purchasing. Home prices in major Chinese cities posted their first monthly decline in nearly two years in May, providing new evidence that the once red-hot market is losing steam. The average price of a new home in 100 major cities fell 0.3% from April to 10,978 yuan ($1,760) per square meter, the first fall since June 2012.

Hong Kong Retail Sales fell to a seasonally adjusted annual rate of -9.8%, from -1.3% in the preceding month. Japan’s Monetary Base fell to 45.6%, from 48.5% in the preceding month while Japan’s Average Cash Earnings rose to a seasonally adjusted 0.9%, from 0.7% in the preceding quarter. Thai consumer confidence jumped in May on hopes a new military government would impose order after months of political chaos that had threatened to tip the economy into recession.