Asian shares plummeted Tuesday as commodities languished in the light of Chinese economic growth concerns and weak risk sentiment.
The MSCI Asia Pacific Index, which fell 0.3% yesterday, erased 0.4%. The Shanghai Composite Index lost 0.4, while South Korea’s Kospi slipped 0.1%. But Japan’s Nikkei added 0.3%.
Unfortunately, the official Chinese GDP data “had to be taken with a pinch of salt,” said economists at Capital Economics.
On other news, the three-month copper on the London Metal Exchange was little changed at $5,206.50 a metric ton, while Brent crude climbed to $48.76 a barrel.
The material has been provided by InstaForex Company – www.instaforex.com