Asian shares were in mixed session on Tuesday as investors awaited Chinese trade data that could offer more indications of the country’s economic recovery and U.S. inflation figures due out later this week.
As of 9.34 A.M. Bangkok time, the S&P/ASX 200 in Australia fell 0.23% and South Korea’s Kospi was 0.27% down.
Hong Kong’s Hang Seng index dropped 0.15%.
Japan’s Nikkei 225 up 0.72%. Household spending in Japan fell in April, despite experts polled by Reuters expecting a rise.
The Shanghai Composite in mainland China rose 0.38%. A Reuters poll estimates that China’s trade surplus will be $74.3 billion in April, down from March’s surplus of $88.2 billion.
Overnight in the United States, the Senior Loan Officer Opinion poll conducted by the Federal Reserve revealed stricter conditions for commercial and industrial loans. The report found that banks tightened lending rules to households and companies as a result of problems at mid-sized institutions, which could threaten economic growth in the U.S.
At the close of trading, the S&P 500 was up slightly, while the Nasdaq Composite rose 0.18%. There was a drop of 0.17% in the Dow Jones Industrial Average.
Ahead in the week, markets will be keeping tabs on U.S. President Joe Biden and top legislative leaders as they discuss the debt ceiling issue. The tone for the stock market could be set by consumer inflation figures released Wednesday, which could shed light on the Federal Reserve’s future course of action.
