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Asian mkts track fall on Wall St

Asian mkts track fall on Wall St

Hong Kong: Asian shares were mixed on Tuesday after Wall Street retreated as surprisingly strong US manufacturing data cast doubts over how soon the Federal Reserve might cut interest rates. Hong Kong gained 2.2 per cent to 16,906.15.

The Shanghai Composite index edged 0.1 per cent lower to 3,074.96. China real estate developer Vanke’s Hong Kong-listed shares slumped 9.6 per cent on Tuesday after it reported last week that its 2023 core profit sank 50.6 per cent from a year earlier.

In a rare case of intervention, in March state banks were tapped to provide financial support for Vanke.

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