Asian stocks down as investors await Chinese data
Asia Pacific stocks were largely down on Tuesday morning as investors await Chinese trade data and Japanese shares continued their bullish run.
China’s Shanghai Composite dipped 0.11% by 9:33 PM ET (1:45 AM GMT), while the Shenzhen Component remained flat at 14,565.60. Investors are anticipating trade data, including imports, exports, and the trade balance, due later in the day. Additional data, including the consumer and producer price index, are due on Thursday.
In Japan, the Nikkei 225 jumped 0.71% after touching down the 30,000-mark for the first time since April 2021.
South Korea’s KOSPI dropped 0.70%, and Hong Kong’s Hang Seng Index took a 0.13% loss.
Australia’s ASX 200 shed 0.41%, with the Reserve Bank of Australia set to hand down its policy decision within the day.
In other news, U.S. President Joe Biden is likely to vote on whether to re-nominate Fed Chairman Jerome Powell for a second term within the week.