The aerial photograph shows the containers at Beilun Port in Z Jiang Province, China on April 11, 2024.
nuphoto | nuphoto | Getty Images
The Asia-Pacific market fell sharply on Tuesday, tracking the losses of the S&P 500 and NASDAQ overnight, with investors assessing industrial profit data from China.
China’s industrial profits rose 3.6% year-on-year from January to July, compared to 3.5% growth from January to June.
Hong Kong Hangsen index The trade’s final time rose 0.4%, but the mainland China CSI 300 fell 0.57% and closed at 3,305.33.
Japan Nikkei 225 It went up 0.47% to close at 38,288.62, but Broad-based Topix reached 2,680.80 from 0.73%. Only two main indexes in the positive region.
South Korea Kospi It closed down 0.32% at 2,689.25, but the small Cap Cosdaq recorded a loss of 0.24% until it finished at 764.95.
Australia’s S&P/ASX 200 reversed profits to reduce by 0.16%, wrapping the trading session at 8,0845. Earlier in the trading day, the index was approaching a violation of its all-time high of 8,114.7, set on August 1.
Oil prices continued to rise after Israel and Hezbollah traded strikes over the weekend late Monday, with US mid-moderate crude rising 3.5%, closing at $77.42 a barrel, and Brent crude rising 3.05% in about two weeks.
Oil prices later brought in some profits on Tuesday, with WTI futures trading at $77.02 per barrel and Brent at $81.07 a barrel.
Overnight in the US, the Dow Jones Industrial Average on Wall Street reached a new high, closing at 65.44 points (0.16%) at 41,240.52. S&P 500 and Nasdaq Composite There was a decrease of 0.32% and 0.85%, respectively.
—CNBC’s Lisa Kailai Han and Alex Harring contributed to this report.
