Asian stock markets slipped in to the red on Tuesday, despite the positive cues from European markets overnight, as traders reacted to weak fourth-quarter economic data emerging from China, which reported its second-lowest annual economic growth in almost 50 years. Traders are also assessing stubborn inflation, possible recession and the growth outlook for the markets. Asian markets closed mostly higher on Monday.
The Australian stock market modestly higher on Tuesday after being in the red at open, extending the gains in the previous fourth sessions, with the benchmark S&P/ASX 200 staying below the 7,400 level off yesterday's nine-month highs, despite the positive cues from European markets overnight, dragged by mining and energy stocks amid tumbling commodity prices.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.