Stock market today: Asian shares fall back amid selling of China property shares

Chinese services data came in weaker than expected, dulling hopes for a rebound in China’s lackluster growth. A survey showed business activity in China’s services sector increased at the slowest pace in eight months.

In Seoul, the Kospi lost 0.3% to 2,577.71. Australia’s S&P/ASX 200 was down 0.5% to 7,279.30. Shares also fell in Southeast Asia and Taiwan. The report also showed the unemployment rate rose to 3.8% from 3.5%. That’s the highest level since February 2022, though still low by historical standards.expected at some point in 2023

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