Most Asian Stocks Fall as Traders Weigh Economic Concerns

Most Asian markets reported losses in their early Tuesday trading sessions after Wall Street saw a volatile session overnight as traders continued to weigh economic concerns.

As of 9.33 hrs. local time in Thailand,  Hong Kong’s Hang Seng index edged 0.92% lower, while mainland Chinese market’s Shanghai Composite dropped 0.49%.

Japan’s Nikkei fell 0.03% and South Korea’s Kospi was 0.18% down.

Meanwhile, in Australia, the S&P/ASX 200 was 0.21% higher.

According to Reuter, US equities ended a volatile trading session on Monday marginally lower, with few catalysts to sway investor sentiment as the markets approach the halfway point of a year that has been battered by heightened inflation fears and harsh Fed policy.

The Dow Jones Industrial Average fell 0.2%, the S&P 500 lost 0.30% and the Nasdaq Composite slipped 0.72%.

In the meantime, oil prices rose as the Group of Seven (G7) nations, that are now meeting in Germany, pledged to further pressure Russia’s finances with fresh sanctions, including a proposal to cap the price of Russian oil.

U.S. crude rose 1.1134% to US$110.79 a barrel. Brent crude surged 1.26% to US$116.54 per barrel.