Mainland China stocks bucked the trend as easing Covid curbs boosted confidence but the region’s bourses are still set for half-yearly losses

Dismal consumer confidence data from the US sent Wall Street plunging and Asian markets followed in its wake

Beijing’s relaxation of some quarantine rules for international arrivals boosted hopes of a recovery in the world’s No-2 economy

Hong Kong’s Hang Seng tech index soared 4.71%, while technology heavyweights also lifted Japan’s Nikkei as commodity prices cooled

Investors were in downbeat mood as worries over global growth overshadowed trade, while signs of fresh tech crackdowns in China hit Hong Kong

Investors took a breath on Tuesday after a weeks-long slump, with the Nikkei and Hang Seng recovering some of their recent losses

Japan's Nikkei closed at a five-week low while South Korea hit its lowest levels since November 2020 and shares in Kuala Lumpur ended at their lowest point in two years

Shares in Japan, Taiwan, South Korea, Malaysia and Thailand all posted their worst weekly performances for some time as global recession fears gripped

The Nikkei scratched out a small gain but most of the region’s markets fell back as fears of recession dominate the outlook

The threat of a harsh rate hike by the Fed saw a dark cloud settle over the region’s markets, though China traders were buoyed by positive May factory numbers

Traders across the region were still reeling after Monday’s pummelling but there were gains in China and a minor bounceback in Tokyo

Investors across the region were encouraged by a Wall Street rally despite ongoing concerns about growth and inflation in a post-pandemic world