Industry News

Asian Stocks Weaken As Commodity Prices Weigh

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Update time : 2023-07-19 16:55:15

Asian markets finished trading on a negative note on Tuesday, as lower commodity and iron ore prices weighed on sentiment. Weak GDP data from China continued to impact the commodity price outlook.

Markets also await the earnings updates and forward guidance. Minutes of the Reserve Bank of Australia, which hinted at future hikes, also dampened sentiment.

China's Shanghai Composite Index dropped 11.81 points or 0.4 percent to finish trading at 3,197.82. The day's trading ranged between 3,210.25 and 3,190.00. The Shenzhen Component Index fell 37.40 points or 0.3 percent to close at 10,972.96.

The Japanese benchmark Nikkei 225 Index rose 102.63 points or 0.3 percent to end trading at 32,493.89. The day's trading range was between 32,338.30 and 32,714.59.

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