Asian Equities Lower After U.S. Lead

Asian stock markets drifted lower Tuesday after U.S. indexes pulled back from record highs and investors awaited fresh data from China.  Japan’s Nikkei 225 index tracked Wall Street’s declines, slipping 0.2 percent to 15,351.25 despite fresh data showing the current account surplus was larger than expected in May.

South Korea’s Kospi fell 0.1 percent to 2,003.21 after Samsung announced its operating profit fell 24 percent from a year earlier in the April-June quarter due to the strong won and slowing smartphone sales in China.

Hong Kong’s Hang Seng fell 0.2 percent to 23,509.77. Elsewhere in Asia, shares were lower in Shanghai, Australia, New Zealand, Singapore and Taiwan but rose in Indonesia and Malaysia.

Bloomberg

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.