Asian markets showed mixed performance Tuesday, with Hong Kong stocks falling due to persistent China economic concerns and tech sector sell-offs. Singapore and Jakarta markets, however, posted marginal gains, highlighting regional divergence.
Asian stock markets displayed divergence on Tuesday. The Hong Kong Hang Seng Index dropped 1.5%, closing below 15,200 points, primarily weighed down by persistent concerns over China's property sector and selling pressure on large-cap technology stocks. Alibaba and Tencent both saw declines exceeding 2%. In contrast, Singapore's Straits Times Index posted a modest gain of 0.3%, and Indonesia's Jakarta Composite Index rose 0.5%, benefiting from stable commodity prices. This mixed regional sentiment had a mildly negative influence on the Kuala Lumpur market, with traders remaining cautious in the absence of clear direction. Volatility in regional markets is expected to continue if Chinese economic data fails to improve in the near term.
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