Investing.com - Asian stocks were lower after Japan cast a downbeat view of its economy in a monthly assessment.
A soft German business confidence report sent investors selling and taking up safe-haven currency positions as well.
During Asian trading on Tuesday, Hong Kong's Hang Seng Index was down 0.14%, Australia's S&P/ASX200 was down 0.02%, while Japan’s Nikkei 225 Index was down 0.57%.
The Japanese Cabinet Office earlier reported in a monthly assessment that a cooling global economy may demand less from Japan's key export sector.
Meanwhile in Germany, a business confidence index softened to its lowest level since March 2010.
German research institute Ifo reported earlier that its Business Climate Index came in at 102.3 for August from a downwardly revised 103.2 in July, slightly off from market forecasts for a reading of 102.6.
The current assessment index fell less than analysts were expecting, dipping to 111.2 in August from 111.5 last month, slightly better than expectations for a reading of 110.8.
Trading was quiet, as markets worldwide are keeping a close eye on the Federal Reserve's upcoming symposium in Jackson Hole, Wyoming, later this week, where Fed Chairman Ben Bernanke has announced monetary easing measures in the past, which weaken the dollar and send stocks climbing worldwide to spur growth.
Both Bernanke and European Central President Mario Draghi will speak at the event, and may offer insight as to whether monetary authorities will stimulate major global economies to spur recovery.
In Hong Kong, top decliners included China Merchant Holdings, down 2.17%, COSCO Pacific, down 2.01%, and Cathay Pacific Air, down 1.78%.
In Australia, top decliners included Gryphon Minerals, down 6.12%, Emeco Holdings, down 6.08%, and Aquila Resources, down 5.98%.
European stock futures indicated a lower opening.
France's CAC 40 futures pointed to a loss of 0.23%, while Germany's DAX 30 futures pointed to a loss of 0.10%. Meanwhile in the U.K., FTSE 100 futures indicated a loss of 0.12%.
Dow Jones Industrial Average futures were down 0.16% while the S&P 500 futures were down 0.22%.
Later in the day, the U.S. will release a report on consumer confidence, a widely-followed indicator of economic health, as well as industry data on house price inflation.
A soft German business confidence report sent investors selling and taking up safe-haven currency positions as well.
During Asian trading on Tuesday, Hong Kong's Hang Seng Index was down 0.14%, Australia's S&P/ASX200 was down 0.02%, while Japan’s Nikkei 225 Index was down 0.57%.
The Japanese Cabinet Office earlier reported in a monthly assessment that a cooling global economy may demand less from Japan's key export sector.
Meanwhile in Germany, a business confidence index softened to its lowest level since March 2010.
German research institute Ifo reported earlier that its Business Climate Index came in at 102.3 for August from a downwardly revised 103.2 in July, slightly off from market forecasts for a reading of 102.6.
The current assessment index fell less than analysts were expecting, dipping to 111.2 in August from 111.5 last month, slightly better than expectations for a reading of 110.8.
Trading was quiet, as markets worldwide are keeping a close eye on the Federal Reserve's upcoming symposium in Jackson Hole, Wyoming, later this week, where Fed Chairman Ben Bernanke has announced monetary easing measures in the past, which weaken the dollar and send stocks climbing worldwide to spur growth.
Both Bernanke and European Central President Mario Draghi will speak at the event, and may offer insight as to whether monetary authorities will stimulate major global economies to spur recovery.
In Hong Kong, top decliners included China Merchant Holdings, down 2.17%, COSCO Pacific, down 2.01%, and Cathay Pacific Air, down 1.78%.
In Australia, top decliners included Gryphon Minerals, down 6.12%, Emeco Holdings, down 6.08%, and Aquila Resources, down 5.98%.
European stock futures indicated a lower opening.
France's CAC 40 futures pointed to a loss of 0.23%, while Germany's DAX 30 futures pointed to a loss of 0.10%. Meanwhile in the U.K., FTSE 100 futures indicated a loss of 0.12%.
Dow Jones Industrial Average futures were down 0.16% while the S&P 500 futures were down 0.22%.
Later in the day, the U.S. will release a report on consumer confidence, a widely-followed indicator of economic health, as well as industry data on house price inflation.