Asian markets trade lower on virus spike

Tuesday, 14. July 2020 05:00

Asian markets moved lower on Tuesday as investors continued to monitor the resurgence of the coronavirus pandemic. Aside from recent spikes in new infections in the Western hemisphere, Hong Kong moved to contain the spread of the disease with the introduction of new protective measures as experts warned of a potential second outbreak. On the data front, China reported trade figures for June, while increased tensions with Washington offset the positive data.

In Japan, the benchmark Nikkei 225 fell 0.84% at 4:30 am CET. At the same time, South Korea's Kospi Composite was down 0.53%. In mainland China, the Shanghai Composite lost 0.71% while the Shenzhen Composite dropped 1.31% at 4:52 am CET. Hong Kong's Hang Seng dipped 1.51% at the time. Australia's S&P/ASX 200 declined 0.37% in Sydney.

The dollar was 0.11% lower against the yen, buying ¥107.181 at 4:55 am CET.

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Breaking the News / JC