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Asia markets open lower as traders assess Japan, Aussie business activity data and U.S. tech earnings

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Investors in Asia will also look at tech stocks to see if there is any spillover effect on EV stocks after Tesla earnings missed estimates.

Australia saw its private sector activity expand at a slower pace in July, with the composite purchasing managers index at 50.2 compared to 50.7 in June, according to Juno Bank.

The region will also look for any spillover to tech and EV stocks after U.S. tech giants Alphabet and Tesla reported their second quarter earnings, with Tesla falling short of estimates. Asia-Pacific markets fell on Wednesday as traders assessed July business activity data from Australia and Japan, and tech earnings from the U.S..dropped 0.19%, while the broad-based Topix was down 0.35%. Flash data from the au Jibun Bank showed that the country'sJapan's composite purchasing managers' index for July was at 52.6, up from 49.7 in June. This was"indicative of solid growth" among Japanese private sector firms, the report said.

Heavyweight Samsung Electronics plunged 1.43%, even as Reuters reported that chip giant Nvidia had cleared its chips for use in a processor for the China market.Hang Seng index

 

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