Asian stocks mostly down on weak data, commodity prices

SEOUL (South Korea): Asian stock markets were mostly lower on Tuesday as disappointing data from the US and further drops in prices of oil and other commodities led investors to remain cautious about betting on risky assets. 

KEEPING SCORE: Japan's Nikkei 225 dipped 0.2 per cent to 20,574.18 and South Korea's Kospi declined 0.4 per cent to 1,960.60. China's Shanghai Composite Index dropped 0.9 per cent to 3,960.71. But Hong Kong's Hang Seng index added 0.3 per cent to 23,881.61 while Australia's S&P/ASX 200 inched up 0.1 per cent to 5,373.30 Stock Market Trading Tips

ANALYST'S TAKE: "Global money managers are not really keen on taking risks at the moment," said Bernard Aw, a market strategist at IG. Aw cited prospects of higher interest rates in the US as among the factors that made investors cautious. "Other developments, such as the commodity slump and China slowdown, added to the nervousness." 

COMMODITY MARKETS: Even though the Chinese yuan stayed stable for about a week since a sharp devaluation last week, fears about weak growth in China have pushed down the prices of oil, copper and other metals, hurting emerging markets that rely on natural resources. Evan Lucas, a market strategist at IG, said the crude prices can decline further in the foreseeable future Indian stock market astrology prediction

OIL: The benchmark US crude fell 7 cents at $41.80 per barrel on electronic trading on New York Mercantile Exchange. The contract declined 63 cents to close at $41.87 on Monday after data showed growth contracted in Japan, the world's third-largest oil consumer. Brent crude, a benchmark for international oils used by many US refineries, fell 14 cents at $48.60. 

WEAK US DATA: Manufacturing activity in New York state contracts at the fastest pace since the Great Recession in August, pulled down by sharp declines in new orders and shipments. TheFederal Reserve Bank of New York that its Empire State manufacturing index plunged to minus 14.9, the lowest level since April 2009, from a positive reading of 3.9 in July. 

WALL STREET: The US stock market climbed on Monday. The S&P 500 ended the day up 10.90 points, or 0.5 per cent, to 2,102.44. The Dow Jones industrial average rose 67.78 points, or 0.4 per cent, to 17,545.18. The Nasdaq composite climbed 43.46 points, or 0.9 per cent, to 5,091.70 Jackpot Stocks Trading Tips