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Asian Stock Market: Trades in negative territory, Chinese indices leading losses

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Asian stock markets are trading lower on Tuesday, with Chinese equities leading losses amid the ongoing concerns about an economic slowdown and a prop

At press time, China’s Shanghai is down 0.63% to 3,157, the Shenzhen Component Index declines 0.46% to 10,562, Hong Kong’s Hang Sang dips 1.57% to 18,545, South Korea’s Kospi is down 0.08% and Japan’s Nikkei is down 0.14%.

China's services activity in August grew at the slowest pace in eight months. Caixin reported on Tuesday that the Chinese Services Purchasing Managers' Index fell to 51.8 in August from 54.1 in July. Philippine inflation accelerated for the first time in seven months in August, owing mostly to an increase in food and transport costs. Consumer Prices increased 5.3% YoY in August from the previous reading of a 4.7% increase in July.

Looking ahead, the US Factory Orders will be due on Tuesday in the American session. The attention will then shift to the US ISM Services PMI on Wednesday. Market participants will closely watch the release of Chinese Trade data on Thursday ahead of the Japanese Gross Domestic Product for Q2 on Friday.Information on these pages contains forward-looking statements that involve risks and uncertainties.

 

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