Stocks in Asia mostly decline

Stocks in Asia mostly decline

On Tuesday, Asian shares mostly headed south in cautious trade ahead of major events later in the week, with the United Kingdom heading to surveys on Thursday as well as ex-FBI chief James Comey set to testify to US Congress.

Japan's Nikkei 225 index moved down 0.59% after Japan unveiled that average cash earnings gained 0.5% for April, unlike a 0.3% gain observed year-on-year.

The S&P/ASX 200 lost 1.26%, suppressed by broad dips in the utilities, energy sub-indexes and financials. As for key banking as well as resource stocks, they traded in the red. The Reserve Bank of Australia didn’t change it interest rate as expected.

The Hang Seng Index managed to leap 0.35%, the Shanghai Composite lost 0.22%. By the way, South Korean markets aren’t available due to Memorial Day.

Overnight, American shares concluded lower, while keeping to near record levels because dismal economic data applied pressure on the prospect of stronger American economic surge, while stocks of Apple went down, reacting to a rare downgrade.

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