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Asian Markets Mostly Lower Amid Cautious Trade

Mount Equity Group Tokyo, Japan > News > Markets > Asian Markets Mostly Lower Amid Cautious Trade

(RTTNews) – Asian stock markets are mostly lower on Tuesday, following the mixed cues from Wall Street overnight. Investors await key U.S. inflation data due on Thursday for more indications about the Fed’s policy outlook and cues about the global economic recovery. The coronavirus infection rate in the region is also keeping the underlying mood cautious. Asian stocks ended mixed on Monday.

The U.S. Treasury Secretary Janet Yellen said a “slightly higher” interest rate environment would be an advantage to the economy.

The Australian stock market is modestly lower after alternating between red and green in choppy trading on Tuesday, with the benchmark S&P/ASX 200 falling below the 7,300 level after hitting fresh all-time highs, as local data showed that business sentiment eased from last month’s record highs. Meanwhile, traders are optimistic as domestic new coronavirus cases declined.

New COVID-19 infection cases in the country’s second-most populous state of Victoria were just two, both linked to the current outbreaks. Currently, there are 92 active cases in the state after the lockdown was extended in Melbourne area.

The benchmark S&P/ASX 200 Index is losing 12.30 points or 0.17 percent to 7,269.60, after touching a high of 7,315.60 earlier. The broader All