Asian stock markets are trading mostly lower on Tuesday, following the firmly negative cues from Wall Street overnight, as traders are concerned that the regulatory crackdowns and a collapse at Evergrande could hurt an already fragile Chinese economy and drag on global growth. The mood also remained cautious amid uncertainty of interest rates and the coronavirus infections in the region tempered by support from climbing crude oil prices. Asian stocks ended on a mixed note on Monday.
The Australian stock market is notably lower on Tuesday, giving up some of gains in the previous session, with the benchmark S&P/ASX 200 staying above the 7,200 level, following the firmly negative cues from Wall Street overnight, with technology stocks mirroring their peers on Nasdaq, partially offset by strength in energy stocks and gold miners. The domestic coronavirus situation, primarily in New South Wales and Victoria, is also denting investor sentiment.
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