Oil prices fell on Tuesday after U.S. President Donald Trump’s lengthy 50-day deadline for Russia to end the Ukraine war and avoid sanctions eased immediate supply concerns.
Most Asian stocks moved in a tight range on Tuesday as markets questioned data showing stronger-than-expected economic growth in China, while concerns over higher U.S. trade tariffs remained in play.
China promised to build liveable, sustainable and resilient cities in the next phase of its urban development after the first top-level urban planning meeting in a decade, abandoning breakneck urban growth that once super-charged its economy.
China’s economy slowed less than expected in the second quarter in a show of resilience against U.S. tariffs, though analysts warn that weak demand at home and rising global trade risks will ramp up pressure on Beijing to roll out more stimulus.
Property investment in China declined 11.2% in the first half of the year from the same period last year, after slumping 10.7% in January-May, official data showed on Tuesday.
China’s industrial output grew 6.8% year-on-year in June, quickening from the 5.8% pace in May and beating forecasts, but retail sales growth slowed down, official data showed on Tuesday.