Asian stocks gave little importance to global benchmarks amid upbeat data from China/Australia


Asian stocks refrained from following global benchmarks on Tuesday as welcome housing data from China and better than expected Australian consumer confidence pleased buyers.

Dow Jones Industrial Average, S&P500 and Nasdaq 100 were all losing nearly 0.1% after earnings from Goldman Sachs and Citigroup lagged behind market consensus. Global indices were previously taking advantage of upbeat data from China and positive clues concerning the US-China trade deal.

China’s home prices (MoM) grew +0.6% in March versus +0.5% in February while crossed 10.4% forecast on a yearly basis by flashing +10.6% growth. On the other hand, Australia’s weekly ANZ Roy Morgan consumer sentiment index also came on the top of 113.2 prior with 115.3 figure.

MSCI’s index of Asia-Pacific shared ex-Japan was a bit positive to +0.2% during press time whereas Japan’s Nikkei also in +0.3% gains. China’s Hang Seng flashes +0.6% positives moves while Australia’s ASX 200 was up +0.35%. Further, India’s Sensex grew nearly 1.0% while Indonesia’s Jakarta Composite Index was up nearly 3.0% while writing.

It should also be noted that market risk sentiment remains ebbed as notified by the US 10-year treasury yields of 2.55%.

While results from Bank of America Corporation could direct global indices during the US session, monthly releases of the UK employment data, the Eurozone and German economic sentiment, followed by the US industrial production might dominate today’s economic calendar.

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