Market Commentary - Foreign Markets
China Shanghai Composite Index Drops 0.43% As on : 30-Jul-24  15:55

Asian stocks fell broadly on Tuesday as investors awaited cues from a slew of central bank meetings around the world and mega-cap U.S. tech earnings.

The Federal Reserve, the Bank of England and the Bank of Japan are holding their monetary policy meetings this week while Microsoft is set to report its financial results on Tuesday, Meta Platforms on Wednesday and Apple and Amazon on Thursday.

The dollar held in a tight range in Asian trade and Treasury yields held relatively steady while gold edged higher on rate cut expectations. Oil extended recent losses on China demand concerns.

China's Shanghai Composite index dropped 0.43 percent to 2,879.30 and Hong Kong's Hang Seng index fell 1.37 percent to 17,002.91 ahead of Chinese factory activity data due this week.

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