A lack of new catalysts left Asia-Pacific stocks with no clear direction on Tuesday following Chinese growth figures and ahead of a slew of US bank earnings.

Equities in the region swung between mild gains and losses with Hong Kong’s Hang Seng index up 0.1 per cent and China’s CSI 300 down 0.3 per cent. Australia’s S&P/ASX 200 was little changed, down 0.1 per cent after the country’s central bank left the door open for further rate cuts in its July minutes.

In Japan, the Topix index was down 0.5 per cent on returning from a long weekend with falls across the board following Monday’s data release that showed China’s economy grew at its slowest rate in almost three decades in the second quarter. 

Overnight on Wall Street, the S&P 500 scraped a fresh record high at the start of a busy week for earnings. JPMorgan Chase, Goldman Sachs and Wells Fargo will report later in the session.

Currencies were equally muted with the dollar index, a measure of the greenback against a basket of peers, holding steady. The pound and the euro hovered against the dollar. 

Coming up

  • UK jobs data
  • Germany Zew economic sentiment survey

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Markets Briefing is a concise look at global markets, updated throughout the trading day by Financial Times journalists in Hong Kong, New York and London. Feedback? Write in the comments below or send us an email.



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