Asian equities declined on Tuesday amid caution over developments in Hong Kong and as investors focused on key data in China and Japan. Protesters remained on Hong Kong’s streets on Tuesday, spreading to areas of Admiralty, Causeway Bay and Mong Kok in Kowloon, but police have been absent, according to local media.
“The region’s second largest index will again be the focal point for Asian markets, as Hong Kong sees its largest civil unrest since the 60s. With Chinese National Day (a public holiday) tomorrow, the likelihood of the crowds increasing is mounting,” said Evan Lucas, market strategist at IG.
On the economic front, Japan’s August data deluge was mixed with household spending and industrial output coming in worse than expected, while retail sales beat forecasts. Next up is HSBC’s China final factory activity report for September at 9:45am SIN/HK.
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