Investing.com - Asian stock markets were lower on Tuesday, with shares in mainland China and Hong Kong getting slammed for a second consecutive day amid ongoing concerns over tight liquidity conditions.
During late Asian trade, Hong Kong's Hang Seng Index was down 1.3%, Australia’s ASX/200 Index ended 0.3% lower, while Japan’s Nikkei 225 Index ended down 0.7%.
In Hong Kong, the Hang Seng tumbled to a nine-month low as fears over a cash crunch in the Chinese financial system lingered after interbank lending rates surged to a record last week.
China Minsheng Bank lost 4%, while Agricultural Bank of China was down 2%.
Meanwhile, in Australia, the benchmark ASX/200 Index ended at a six-month low as global miners came under pressure amid concerns over China’s economic outlook.
Rio Tinto and BHP Billiton declined 2.5% and 1.7% respectively, while Newcrest Mining saw drop 2.4%.
Australian commodity producers are heavily reliant on Chinese demand for raw materials.
Elsewhere, in Tokyo, the Nikkei turned lower in afternoon trade as investors continued to eye movements in the yen and in the Japanese government bond market.
Shares in automakers Toyota and Mazda fell 1.4% and 1.9% respectively.
Real-estate shares were lower, amid jitters over the direction of bond prices. Mitsui Fudosan lost 1.3%, while Sumitomo Realty & Development dropped 2%.
Looking ahead, European stock market futures pointed to a higher open, following the previous day’s sharp losses.
The EURO STOXX 50 futures pointed to a gain of 0.8% at the open, France’s CAC 40 futures rose 0.6%, London’s FTSE 100 futures indicated a gain of 0.5%, while Germany's DAX futures pointed to a rise of 0.5% at the open.
The U.S. was to release official data on durable goods orders and reports on home sales and consumer confidence later in the trading day.
During late Asian trade, Hong Kong's Hang Seng Index was down 1.3%, Australia’s ASX/200 Index ended 0.3% lower, while Japan’s Nikkei 225 Index ended down 0.7%.
In Hong Kong, the Hang Seng tumbled to a nine-month low as fears over a cash crunch in the Chinese financial system lingered after interbank lending rates surged to a record last week.
China Minsheng Bank lost 4%, while Agricultural Bank of China was down 2%.
Meanwhile, in Australia, the benchmark ASX/200 Index ended at a six-month low as global miners came under pressure amid concerns over China’s economic outlook.
Rio Tinto and BHP Billiton declined 2.5% and 1.7% respectively, while Newcrest Mining saw drop 2.4%.
Australian commodity producers are heavily reliant on Chinese demand for raw materials.
Elsewhere, in Tokyo, the Nikkei turned lower in afternoon trade as investors continued to eye movements in the yen and in the Japanese government bond market.
Shares in automakers Toyota and Mazda fell 1.4% and 1.9% respectively.
Real-estate shares were lower, amid jitters over the direction of bond prices. Mitsui Fudosan lost 1.3%, while Sumitomo Realty & Development dropped 2%.
Looking ahead, European stock market futures pointed to a higher open, following the previous day’s sharp losses.
The EURO STOXX 50 futures pointed to a gain of 0.8% at the open, France’s CAC 40 futures rose 0.6%, London’s FTSE 100 futures indicated a gain of 0.5%, while Germany's DAX futures pointed to a rise of 0.5% at the open.
The U.S. was to release official data on durable goods orders and reports on home sales and consumer confidence later in the trading day.