Asian stock markets are trading mostly lower on Tuesday, following the mildly negative cues from global markets overnight, amid sinking oil prices, concerns over slowing growth and the rising tension between China and the U.S over Taiwan visit by US House Speaker Nancy Pelosi. Lingering concerns about the outlook for the economy, inflation and interest rates also weighed on sentiment. Asian markets closed mostly higher on Monday.
The Australian stock market is modestly lower on Tuesday, snapping the five-session winning streak, with the benchmark S&P/ASX 200 staying below the 7,000 mark, following the mildly negative cues from global markets overnight, as traders await the Reserve Bank interest rate decision later in the day, with the RBA tipped to raise rates by another 50 basis points to a six-year high.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.