Cargo ships stop at their berths to load and unload containers at the container terminal in Lianyungang Port, East China’s Jiangsu province, June 5, 2023.
Wang Chun | Future Publishing | Getty Images
Asia-Pacific markets were mixed on Tuesday as investors focus on China’s trade data for July.
Economists polled by Reuters expect a steeper fall in exports in July, forecasting a 12.5% slide from a year earlier compared to June’s figure of a 12.4% drop.
Hong Kong’s Hang Seng index tumbled 1.72%, while mainland Chinese markets also were all lower. The Shanghai Composite fell 0.3% and the Shenzhen Component was 0.36% down.
Japan’s Nikkei 225 rose 0.3%, while the Topix was up 0.34% as the country’s household spending remained in negative territory for the fourth straight month. Overall household spending fell 4.2% year on year in June, compared with 4% in May, official data showed.
In Australia, the S&P/ASX 200 climbed 0.14%, while South Korea’s Kospi inched down 0.25% and the Kosdaq slipped 0.36%.
Overnight in the U.S., all three major indexes gained as investors continue to digest better-than-expected earnings results. Roughly 85% of S&P 500 stocks have reported quarterly results, and nearly 80% of them have beaten Wall Street’s expectations, according to FactSet.
The 30-stock Dow surged nearly 1.2%, for its best day since June 15. Meanwhile, the Nasdaq Composite added 0.6%, and S&P 500 closed higher by 0.9%. Both the Nasdaq and the S&P500 broke four-straight sessions of losses.
— CNBC’s Brian Evans contributed to this report
#Asia #markets #mixed #ahead #China #trade #data
