Asia-Pacific markets lower tracking Wall Street losses, China economic woes deepen

Japan -1.46%. The Reuters Tankan sentiment index for manufacturers in Japan jumped to +12 in August 2023 from +3 in July, hitting its highest level in a year.

China -0.71%. Investors also remained cautious as weak Chinese economic data and the lack of meaningful stimulus from Beijing weighed on the country’s outlook, even after the People’s Bank of China unexpectedly slashed a key lending rate. The latest data showing home prices fell 0.1 percent year-on-year in July 2023 after edging up 0.1 percent in the previous month, pointing to the fifth time of decline so far this year amid a prolonged property crisis and stalling economic recovery.