Asian stock markets are trading mostly lower on Tuesday, following the broadly positive cues from Wall Street overnight, as traders seem cautious and reluctant to make significant moves amid data showing a slower than expected pace of economic growth in China in the second quarter, raising concerns about the outlook for global growth. Asian markets closed mostly lower on Monday.
The Australian stock market is modestly lower on Tuesday, extending the losses in the previous session, with the benchmark S&P/ASX 200 staying below the 7,300 level, despite the broadly positive cues from Wall Street overnight, with losses in mining and energy stocks amid weaker commodity prices.
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