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Chinese Markets Gain After Real Estate Data

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Asian stocks ended mixed on Tuesday as investors pondered what the U.S. Supreme Court's immunity decision meant for former president Donald Trump.

The dollar gained traction and yields hit a one-month high after the Supreme Court ruled that presidents have absolute immunity from prosecution for core official acts.

Chinese and Hong Kong markets advanced after data showed the downturn in China's residential real estate sector slowed further in June.

The value of new-home sales from the 100 biggest real estate companies dropped 17% from a year earlier to 439 billion yuan ($60 billion), compared with a 34% decline in May, according to preliminary data from China Real Estate Information Corp.

 

China's Shanghai Composite index finished marginally higher at 2,997.01 after a choppy session. Hong Kong's Hang Seng index rose 0.29 percent to 17,769.14 as trading resumed after a holiday.

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First Published: Jul 02 2024 | 5:03 PM IST

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