Asian stock markets inched up on Tuesday as traders continued to monitor market reaction to global economic data.
As of 9:36 a.m. Thai time, mainland China market’s Shanghai Composite gained 0.36%, while Hong Kong’s Hang Seng index was 0.38% higher.
The S&P/ASX 200 in Australia rose 0.62%, and Japan’s Nikkei 225 was little changed.
The South Korea market is closed for a holiday.
China’s retail and manufacturing sectors saw an unexpected slowdown in July, with the National Bureau of Statistics reporting a lower-than-expected 2.7% increase in retail sales, signaling a weak rebound as the government shows no signs of easing its zero-COVID policy.
Homebuilder sentiment in the U. S. has fallen for eight consecutive months, the longest such loss since the housing market crash of 2007. This slump is the result of rising interest rates and home prices.
Monday’s data from the U. S. showed a rapid cooling in manufacturing and a decline in homebuilder sentiment, adding to economic uncertainties following disappointing figures from China.