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Asian stocks fall on rate outlook and tensions
The Asian stock market declined today, Tuesday, as investors awaited U.S. interest rate policies and Middle East tensions, despite strong economic data from China and South Korea. The Japanese Nikkei index fell by 0.2%, while the TOPIX index rose by 0.5%. China's manufacturing sector performance improved, with the Purchasing Managers’ Index (PMI) increasing to 51.5 points in August. Meanwhile, South Korea’s exports surged by 68.7% in August, surpassing expectations. Inflation concerns persisted as oil prices rose above $90, increasing the likelihood of a Federal Reserve rate hike by 66% in September, which could put pressure on Asian markets.
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