Asian stocks decline as Chinese tech shares fall

Asian stocks declined on Tuesday, primarily due to a drop in Chinese tech shares following a significant rally. Investors were also considering the possibility of US tariffs being less severe than expected, and the dollar remained close to three-week highs following positive economic data.

MSCI’s most comprehensive index of Asia-Pacific shares excluding Japan was down 0.35 per cent before the European market opened. Hong Kong’s Hang Seng index dropped 1.8 per cent due to a widespread selloff led by tech stocks.

Attribution: Reuters
Subediting: M. S. Salama