IN Asia, China rose 1.0% while Japan dropped 1.3%. The Shanghai Composite reversed early losses after a buying spree took place in the last hour. This helped the index close at the high of the day. In Japan, the Nikkei followed Wall Street lower to notch its third consecutive loss. Market heavyweight, SoftBank, continued to outpace declines with a loss of nearly 3% on Tuesday.
In Europe, the major bourses saw an early bid give way to modest declines. Hotter than expected inflation data out of Germany threw cold water on the markets. The German CPI for May rose 0.9% and far exceeded the forecast of 0.0%. Semiconductors are off to a weak start with STMicroelectronics and Infineon down 1-2%.
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