Conor Trindle
16 Aug 2022, 17:33 GMT+10
SYDNEY, NSW, Australia - Stocks in China were flat to lower on Tuesday as investors weighed up the disappointing economic data released on Monday.
Weak economic activity in China underscores fears of a global recession.
"In short, the risks of a global recession are suddenly much clearer. Then again, they were 'always' clear to some," Reuters quoted Rabobank as saying in a note. "And does anyone think that a central-bank pivot will make them less likely at this stage?"
While stocks struggled in China and were flat in Japan, elsewhere, modest gains were recorded.
Although China is the biggest recipient of Australia's exports, the Australian All Ordinaries gained 37.00 points or 0.51 percent, to close Tuesday at 7,361.90.
In Japan, the Nikkei 225 inched down 2.87 points or 0.01 percent to 28,868.91.
South Korea's Kospi Composite edged up 6.86 points or 0.27 percent to 2,534.80.
New Zealand's S&P/NZX 50 rose 58.12 points or 0.49 percent to 11,847.15.
In China, the Shanghai Composite was flat, adding 1.80 points or 0.05 percent to 3,277.88.
in Hong Kong, the Hang Seng declined 210.34 points or 1.05 percent to 19,830.52.
On foreign exchange markets, the recent U.S. dollar picked up steam, with the greenback gaining ground across the board.
The euro fell to 1.0135 around the Sydney close Tuesday. The British pound slumped to 1.2009. The Japanese yen slid to 133.78. The Swiss franc weakened to 0.9481.
The Canadian dollar sank to 1.2926. The Australian dollar crumbled to 0.6992. The New Zealand dollar was unwanted at 0.6329.
Overnight on Wall Street, the Dow Jones industrials jumped 151.39 points or 0.45 percent to 33,912.44.
The Nasdaq Composite added 80.87 points or 0.62 percent to 13,128.05.
The Standard and Poor's 500 rose 16.99 points or 0.40 percent to 4,297.14.
Get a daily dose of Sri Lanka Source news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Sri Lanka Source.
More InformationTOKYO, Japan: This week, Toshiba revealed that a tender offer worth US$14 billion from Japan Industrial Partners (JIP) was a ...
HANOI, Vietnam: While the European Union (EU) is set to impose tariffs on its Chinese rivals, Vietnamese electric vehicle (EV) ...
BEIJING, China: In a country where weddings are traditionally grand and expensive events, China's wedding industry, estimated at some US$500 ...
PARIS, France: Amid the imminent launch of the iPhone 15, unions representing Apple store workers in France have called for ...
SEATTLE, Washington: To expand its next-day delivery services for shoppers, Amazon said it plans to hire 250,000 more U.S. workers ...
NEW YORK, New York - U.S. stocks weakened on Friday as U.S. Treasury yields continued to point higher while some ...
LONDON, U.K.: Jet engine maker CFM International said this week that thousands of engine components may have been sold with ...
BATAM, Indonesia: Due to mounting geopolitical tensions and protests against China's activities in the South China Sea, ASEAN member nations ...
FREMONT, California: This week, brain-chip startup Neuralink, owned by billionaire Tesla CEO Elon Musk, said an independent review board granted ...
BOSTON, Massachusetts: Officials said that a Delta flight from Chicago to Boston that was possibly struck by lightning landed safely ...
JAKARTA, Indonesia: An Indonesian court sentenced Lina Lutfiawati, also known as Lina Mukherjee, to two years in prison this week ...
HONG KONG: The Chinese Foreign Ministry has issued a request to all foreign consulates in Hong Kong, seeking the personal ...